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Houses from beyond the grave.

The latest foreclosure horror: the zombie title
The Kellers are caught up in a little-known horror of the U.S. housing bust: the zombie title. Six years in, thousands of homeowners are finding themselves legally liable for houses they didn't know they still owned after banks decided it wasn't worth their while to complete foreclosures on them. With impunity, banks have been walking away from foreclosures much the way some homeowners walked away from their mortgages when the housing market first crashed.
[more inside]
posted by the man of twists and turns on Jan 11, 2013 - 36 comments

Suit against banks

Massachusetts AG Sues 5 Biggest Banks The first suit by a state attorney general to address the robosigning allegations of last fall, the suit may signal the failure of the talks among the 50 state attorney's general, federal regulators, and the big banks. (Previously). The most interesting aspects of the suit may be its allegations about mortgage modifications, however, which are new. (Attorney General's full complaint here.) [more inside]
posted by Diablevert on Dec 1, 2011 - 94 comments

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