Mortgage mess: Who really owns your mortgage?
April 3, 2011 3:00 PM
Scott Pelley explains a bizarre aftershock of the U.S. financial collapse: An epidemic of forged and missing mortgage documents.
Add a Comment
- Why wont the media NOT report on more stories about the Mortgage crisis...are they being paid off by the banks? I cant find a story about the Consent Order set forth on April 13, 2011, this is BIG NEWS (more so than a birth certificate...and that was covered 24/7). It seems like there is a bigger cover up that we can imagine!!! I would like to be informed about this issue....MEDIA HELP!!!!
- Reply to this comment
- Incredible report. We were aware of this mess created by the banks, but it's jaw-dropping to see how far the fraud stretches. We are in foreclosure and in our second attempt at a modification. Our servicer has named another bank as the "investor" but they don't even have a phone number to offer to contact the appropriate department at that bank to research our paperwork and get a copy of the note. The last thing we can afford is a lawyer but we may have to resort to one to figure out if the servicer is even proceeding on sound legal footing regarding the ownership of the note. This potential fraud is of course piled on the initial massive fraud committed by the banks in their CDO/CDS schemes that got us to this point in the first place.
- Reply to this comment
- Scott Pelly's story is a prime example of why investigative journalism works and why 60 Minutes continues to set the gold standard by leading every other investigative news show on television. When every major bank and the the association that represents them refuse to comment (both on or off camera)on a banking topic, one cannot help to believe there is so much more to this iceberg than meets the eye. The FDIC Chairperson had better lobby Congress for a contingency fund because we are certain to see problems as homeowners try to sell their homes or pay off their modifications. My wife and I did a modification that was a royal pain and now have to insure Citibank really has possession of the title and did not authorize forged documents. Nice work Scott Pelley.
- Reply to this comment
