How The Mortgage System Works

Foreclosures are setting off

fresh tremors across the

country but not because of any

surge in unpaid loans. An

elaborate system designed to

assure good title to your home

and solid assets on lender

books has been shaken by

revelations of botched

foreclosure affidavits. This is a

problem because courts rely on

sworn affidavits as evidence,

and it appears that large

numbers affidavits were signed

but not read. If an affidavit has

not been read then it's possible

lender claims are wrong. Since

we don't know which affidavits

are accurate and which are not,

massive numbers of audits will

now be required to find out if

any owners unfairly lost their

homes.