[teenerted1]

Originally Posted by Z-man

Nope - the clip states that "after multiple refinancing, she owes $145k on the house." IE: She used the house as collateral multiple times. With with a variable rate mortgage, it would be impossible to swell a $45k loan to $145k. Betcha she's got a Lexus in the driveway...

-Z

i look at it this way...what idiot gave $145 credit on $45k collateral.

wouldnt these multiple mortgages put up a red-flag " 'hey we might lose out on this one'...'NO YOU CANT HAVE THE MONEY' "

both partys are to blame here and if the one currently holding the note cant produce the note how are we to know the current note holder is the one due the money...sure some are using the system but if the system didn't allow all these swaps of notes the we wouldnt be in this mess.