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Dear CIGAs:
Over the past seven years I have told you many things that have not been too wrong.
Here is the top of the heap of strange goings on in finance.
How many of your mortgages have been securitized multiple times?
What if your servicer folded?
The real owner of the mortgage might just knock on your door demanding payment.
It has been held now by many recent court cases that only the party which made the loan has the right to foreclose.
How would you like to find out that even though you have paid your mortgage, the real party of interest says screw you, pay again or foreclosure!
Please, those of you with mortgages on your homes, most certainly jumbos, track down the real owner of your paper and fast.
Ry,
Jim