Guest Post: Mortgages Were Pledged to Multiple Buyers at the Same Time « naked capitalism
April Charney – a consumer lawyer with Jacksonville Area Legal Aid – and CNBC’s Dennis Kneale noted in February 2009 that courts have found that some mortgages have been sold again and again to different trusts, when they should have only been sold once.
Kneale explained that that is the reason that two different banks sometimes try to simultaneously foreclose on the same home.
(Emphasis original.)
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