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To: RealMuLan who wrote (9014)	10/9/2010 11:23:11 AM
From: RealMuLan	Read Replies (1) \| Respond to of 12464

OT: The U.S. mortgage mess (NOT just foreclosure mess) is for REAL! Read this personal experience. There are many people like her, who will be stuck with their houses even after they OWNED the house (after they paid ALL the mortgage), due to NO title (i.e. the Wet Paper)! And the chances are their titles have gone to the trash long time age<g> traders-talk.com "The fact is that they MUST produce the original signed mortgage documentation when foreclosing (better known as the wet paper). In most cases they can't because the mortgage has been packaged into bonds - often divided into more than one - and the lenders like Countrywide - just lost the wet paper. Although my house has been paid off for over 12 years - this has been going on for a long time - and I DON'T even have a clear title - when PHH mortgage sold my loan - they NEVER recorded the name of the new owner on my deed. When I paid it off, TD Service out of California did record my note as paid on the deed but not the name of the owner in between. PHH mortgage and TD Service. I will forecast that Title Insurance companies will become the next AIG as claims are filed against them. It is my opinion that the owners of the mortgage backed securities simply paid off a lot of houses. Mary Anne "