Pledging the cash flow from mortgages to multiple people is obviously fraud and a real problem, but means nothing regarding foreclosure. If the mortgage isn’t being paid, it should be foreclosed on — the only question is who gets the money after the foreclosure.
How can you pay a bank when you can’t even find the note holder because it was flipped so many times?Been there done that.It’s FRAUD!
If there is no paperwork, is there really a mortgage?
Foreclosed by *whom*?
Aye, there’s the rub.