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Why your bank may not be able to reposess you

$$$_12 · 2007-11-17 08:52:52

Hilarious goings on in yesterday's Torygraph. The basics are that a big German bank - having sliced and diced it's mortgage debt - is having a bit of trouble proving it has a right to foreclose in the US. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/11/16/cndeutsch116.xml Putting 2 + 2 together, with a dash…

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BobProperty Posts: 3,245 Forumite

18 November 2007 at 8:58PM

There's a lot of Olympic quality "Jumping to Conclusions" going on here. The laws and circumstances aren't the same as the UK. If you want some opinions on the story, have a read:
http://loanworkout.org/2007/11/18/the-judicial-integrity-of-the-united-states-court-is-priceless--27-more-foreclosures-dismissed.aspx
and some of their links lead to other comments in the same site.

This blogger thinks it's just sloppy paperwork
http://calculatedrisk.blogspot.com/2007/11/in-re-foreclosure-cases.html
and there's nothing to stop them sorting it out and coming back to court. (The legal US term is "dismissed without prejudice")

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Why your bank may not be able to reposess you

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