-
Works As Long As You Never Have To Apply For Another Loan Ever Again
-
If you could find a loophole in the law that would get you off the hook for the rest of your mortgage -- even if you actually owed the money -- would you use it? In Florida, under state law, some homeowners are not paying their mortgages, and when the lender goes after them, all they do is demand to see an original signed mortgage document. If the lender can't produce the original -- not a copy, but one that can be proven to be actually signed in ink -- the mortgage is unenforceable and the home's free. It's a gamble, because some people might find that the lender DOES have the original, but if a mortgage has been sold and resold over and over like so many have been over the years, it's a chance a lot of people seem willing to take. (WKMG-TV/Orlando)
Have an opinion? Add your comment below.