This is the name of an article by Ellen Brown. She wrote The Web Of Debt and is one of my favorite writers and thinkers on our banking crisis and monetary policy.
If you know anyone who is in foreclosure, make sure they read this article. Currently the Banks don’t own our mortgages, they were sold to investors (many of whom are foreign). Most foreclosures are being done by Mortgage Electronic Registration
Systems (MERS) a private company that manages but doesn’t own the note. The upshot is that since MERS doesn’t own the note, they can’t foreclose. Also, Ellen Brown implies that since a single mortgage is owned by many investors, no single entity owns the not and can not foreclose on the homeowner.
Read it and pass it on:
Landmark Decision Promises Massive Relief For Homeowners and Trouble For Banks