If you get threatening foreclosure letters, don’t despair. Instead, get an attorney.
Make the mortgage servicer (the one sending you those letters) prove that it actually owns your debt, or at least represents a bank that does.
As Gretchen Morgenson explains, things got so wacky in the mortgage-lending business a few years bank, that the company sending you those letters may have no idea who actually owns your debt. And if you’re really lucky, like a homeowner in White Plains, a judge may respond by just scratching it out.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.