Foreclosure has become an epedemic of national proportions.
The rate of foreclosure and bankruptcy in Michigan has skyrocketed. Just in Kent County we are seeing an average of 10 foreclosures a week.
Many homeowners facing foreclosure can not work out anything with lenders. They have found the lender won't take their money. Pay them all or nothing.
Seems odd that a lender would turn down money. We are being told they don't want the properties yet when home owners try to pay portions....doing what they can the lender says, NO!
Here is a little video that shows something that many will have not idea exists. Many lenders lose the notes on the property. How? Some just have sloppy paperwork other bundle and sell the notes and they get sold so often they are lost!
Doesn't that make you feel better putting your money in a bank?
Here is a video I have been allowed to repost from CNN Money.
Click and see for yourself....you may be surprised. There is a 30 second spot commercial before the video. http://money.cnn.com/video/news/2008/06/20/news.hunter.produce.note.cnnmoney/
Embedded video from CNNMoney.com Video
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