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MBS
One Homeowner, Two Mortgage Holders, No Lien!
by Susanne Trimbath 09/30/2009
I’ve been following this for a while and writing about it on NewGeography.com since March – not all mortgage-backed securities (MBS) are actually backed by mortgages. So when the homeowner goes into bankruptcy, there’s no way for the MBS holder to prove a lien on the house and the judge awards the bondholder bupkus. read more »
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