CNN Reports that 50% of Banks Can't Show the Note

With tens of thousands of families facing foreclosure each month, Greg Hunter says that 1/2 the time banks don't have the paper-work to show that they own your mortgage.

CNN tells the story about a homeowner falling behind in her loan payments in 2007. Needing a mortgage workout, Wachovia still foreclosed after she tried to pay a catch up payment... But the bank admitted to losing the mortgage note---And this isn't a rare occurance according to Katherine Porter (University of Iowa); she says that 40% of banks can't provide evidence that they own.

One set of 14 mortgages are still in limbo because the bank can't produce the note to show proof of ownership.

CNN recommends that people facing foreclosure get an attorney or at least show up on their court date and content the foreclosure---Ask the bank for proof that they own the house.