[ikka]

This is going to play hell with the whole concept of private property in land.

And guess which political party this will benefit?

[Kartographer]

Well well well guess this isn’t just about ‘dead beats’ looks like we are all in the same boat, but will the rule of law win out? Stay tuned!

[RDasher]

I seem to recall there is another problem with many mortgages. There is a method of bundling mortgage paper such that there is no clear path to the title holder. I remember reading about this a couple months ago. If there is no way to tie a particular property to a particular mortgage in default it becomes impossible to foreclose on the property.