Archives for November 2012

A Third of Mortgages Missing

By Kevin Chiu Legal paperwork determines the ownership of real estate. If those documents are not passed along to a new owner of a mortgage, investors or banks holding a loan on the property have no legal right to it. Up to a third of all mortgage “notes” or $3.7-trillion in U.S. mortgages are likely to be missing or lost, according to the American Bankruptcy Institute. The finding was determined earlier this year in a little publicized … [Read more...]