Mike the Usurper wrote:

Judges in at least five states have stopped foreclosure proceedings because the banks that pool mortgages into securities and the companies that collect monthly payments haven't been able to prove they own the mortgages.

Remember the subprime mortgage mess? Guess what, it just got incomprehensibly worse.

Old :)

RE: Banks Lose to Deadbeat Homeowners as Loans Sold in Bonds Vanish