The banks took the investors money and never gave them the correct paperwork transferring the note to the investors trust/pool ,,, it’s the wall street banks that have been getting the free houses for the last 4 years or so ,, houses that they never put up even a single dollar for ,, it’s time for the wall street banks to pay off the investors for their failure to comply with the contracts they had and to which the homeowner was never a part.
No, the lender will appeal and the people sill owe on the note. In the end the judge will be reversed.
Nobody gets to live anywhere "forever". As far as "without payment", they're still responsible for the property taxes.
It appears that all these properties will end up belonging to the government, at some level. At the rate it's going, I expect to see some kind of mechanism set up that lets the federal government take ownership so it can be made immune to local property taxes, and then handed out to Acorn (or whatever they call themselves today) political operatives.
It’s their house, with a unclear liens upon it, which they may over time and the courts, have removed if any of the claimants can’t prove they have a claim to the house.
The Horaces are the homeowners and they own the house. They put it up as collateral.
This is why some banks are not just suing on the debt rather than wasting time with the loan.