A husband and wife thought they had grabbed a defaulted-upon mortgage, only to find out it was a worthless second lien with no rights to ownership or occupancy.
The presumptive G.O.P. nominee told some well-to-do backers that he was willing to eliminate some tax shelters that favor the rich, such as the deduction for interest paid upon mortgages for second homes.
Also how are partial settlements looked upon by mortgage lenders for example?
In addition, he noted, "Banks in New York State frown upon making mortgage loans to borrowers without a lawyer, unless the borrower is a lawyer or very experienced in real estate matters".
Gerhardt was helpless, and the consciousness of his precarious situation--the doctor's bill, the interest due upon the mortgage, together with the sums owed butcher and baker, who, through knowing him to be absolutely honest, had trusted him until they could trust no longer--all these perplexities weighed upon his mind and racked him so nervously as to delay his recovery.
At the urging of a hedge fund, Paulson, it enlisted an insurance firm, ACA, to select (with Paulson's input) a pool of mortgage instruments upon which the security's price would be based.
"We frown upon exotic mortgages".
What those ellipsis may have been referring to is the fact that Countrywide business model relied upon issuing mortgages to buyers who couldn't afford them, and then selling those mortgages as high-quality investments — a practice that helped precipitate the 2008 financial crisis.
Thomas and Charlotte Sexton, of Kentucky, were successfully foreclosed upon by a mortgage trust that, according to court records, does not exist.
Apparently alarmed about such a possibility, one of the major title insurance companies, Old Republic National Title, has sent a bulletin to agents saying that "until further notice" it would not insure title to properties foreclosed upon by GMAC Mortgage, the country's fourth-largest home lender and one of the two big lenders at the center of the current controversy.
