Friday, Nov 16, 2007
Will this be like bank charges....?
Telegraph: Deutsche Bank in ownership court row
If banks cannot prove ownership and eviction cannot take place, will people eventually get to keep their homes with their debt written off?
Please tell me i'm being totally naive!
Posted by tom101 @ 06:52 AM (468 views) Add Comment
2 Comments
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1. japanese uncle said...
I suspect that the fronting mortgage provider (the direct concerned party shown on the mortgage contract ) will be able to carry out foreclosure as normal. After that, those institutions that bought the CDO will collect their claim from the fronting mortgage provider. This should be the procedure, I guress. But in the event that the fronting mortgage provider does no longer exist for some reason (bankruptcy, etc), the problem may arise.
Just a guess.
2. Tom101 said...
Interesting. Thanks for your reply