I agree few who have made their payments have been removed from their homes.
However, let’s forget about the morgtagees for a moment and talk about the mortgagors.
What is the proper term for using forgery to generate documents in order to gain possession of a valuable piece of property?
Sounds like fraud to me.
The misbehavior of the borrowers is often being used to claim the lenders are fully justified in whatever they have done, and the reverse.
My point is that many on both sides have committed fraud. Many investors took shortcuts in order to save money, ignoring the very clear state laws, and now are taking further (illegal) shortcuts to hide their previous failure to follow the law.
As near as I can read, thus far almost all of this comes from Foreclosures bringing the poorly documented transfers to light. I have heard/read stories of multiple banks trying to foreclose on the same property each claiming to be the sole note holder.
Wait a few years as the economy starts to recover and a segment of homeowners go to refi or sell and find they cannot refi or have to sell at a discount due to clouded title. Will be interesting to hear what the they are all deadbeats crowd will say then.