“It’s not about the deadbeats, but about those who are paying to the wrong person. It’s a complete and utter scam.
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Imagine the immediate future: You pay off the mortgage to whom you *think* owns the title, the bank, only to have the real owners next year file suit claiming you still owe them.
THIS is what the issue is all about: Ensuring whomever owns the loan is accounted for before the borrower is held accountable twice. Imagine being told by the court that any previous adjudication of the loan is a different issue to be resolved later and the newly present owner of the note must be paid.
I agree completely, it’s a disaster. We all know what will happen is that the honest folks who have paid their bills will be charged twice. It’s a sucker’s bet.