Real Estate
Food For Thought (quick)
Apparently amidst the subprime mortgage juggling, some banks have lost a couple of trillion bucks worth of paper. Not hte write-down on the balance sheet, mind you, but actually lost the loan documentation. Makes you feel a little better for being late on your taxes, eh? Anyone know of a method for determining if your particular mortgage paperwork happens to be lost? Aside from “stop paying and see if I lose my house” method, of course.
Why is it that the quantity and frequency of “No U-Turn” signs is always the highest right around highway on-ramps? You know, where one wrong turn can send you in the wrong direction for miles and a legal U-Turn would be the most helpful?
In the future, will education and intellect be judged based on how much information one can recall, or how good one is at formulating Google search queries?
Why does it take 5 days for my local Baby Bell to install internet services when no technician visit is required and I already have my equipment?
Discussion
9 comments for “Food For Thought (quick)”
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Easy way to find out if your mortage has been lost: Demand a copy.
Education and intellect be judged based on how much information one can recall, or how good one is at formulating Google.
Good Food for thought: No U Turn signs work in conjunction with Murphy’s law. The More you need to make a U-turn, the more chance of a No U Turn sign appearing.
Google is going to rule the world and all knowledge and information will go through them and that will be the worlds demise. Period. I’m predicting it.
The next year or so is going to be ‘interesting’, in economic terms.
It’s truly absurd that the financial institutions have gotten so caught up in their own games that they lost track of who owned what house.
I dont think any of us want a situation in which consumer attorneys can vacate debt based simply on a lost or damaged original note. That’s not to say something shouldn’t be done to Mortgage companies who’s negligence leads to such irresponsibility. Especially if like the situation is a result of outright laziness, as was the case with Washington Mutual and Mr. Lents.
We are expecting some major change in the economy so soon but I think the change will not be better than now. We will be much disappointed. That is my believe.
In about 7 months we’ll know the true story. It takes time for these things to filter down. A recession is where your neighbour loses his job. A depression is where you lose yours.
Given that a lot of manufacturing has gone overseas, and the West depends on a paper economy, it could get ‘interesting’.