Foreclosure Fraud Reveals Structural & Legal Crisis ... Sooo .... what the F do we do now?
The woes in the mortgage market are complex, deep and structural. This is more than just a few shortcuts taken by paralegals here and there — there are endemic structural problems within the US real estate and mortgage markets. (Yesterday, we touched upon the problems associated with foreclosure mills).
We are not discussing economic problems of too many homes for sale and falling prices. What is being discussed here is a full blown crisis underlying home titles, foreclosure procedures, and securtized mortgages. The rampant, epidemic and systemic abuse of legal property protections is now reaching a crisis.
via ritholtz.com
Seriously. If our entire system of homeownership is broken, where do we go from here?
