Worried about your mortgage? How about just not paying it? Some banks were so enthusiastic in playing subprime derivatives shell-games that they've literally lost the notes on the mortgages they "own," and can't prove that deadbeat homeowners owe them any money. An estimated $2.1 trillion worth of these mortgages are "orphaned" with no apparent owner.
Joe Lents hasn't made a payment on his $1.5 million mortgage since 2002.
That's when Washington Mutual Inc. first tried to foreclose on his home in Boca Raton. The Seattle-based lender failed to prove that it owned Lents' mortgage note and dropped attempts to take his house. Subsequent efforts to foreclose have stalled because no one has produced the paperwork.
"If you're going to take my house away from me, you better own the note," said Lents, 63, the former chief executive officer of a now-defunct voice recognition software company.
In an effort to get more people reading, the New York Public Library set out to take advantage of Instagram’s huge user base. Mother New York designed “Insta Novels” as a way to read entire novels in Instagram Stories. The books feature carefully selected fonts, beautiful animations, and some clever hacks to allow such an […]
Law school grads routinely go to work for crusading nonprofits and even those in private practice do pro bono work, thanks to a widespread understanding that lawyers have a professional duty to work for the public interest -- after all, understanding and navigating the law is a necessary precondition for freedom and fairness.
As much as vaping has taken over the market during the last decade, there’s still a lot of questions about the technology, as well as health concerns that we’re just now finding out about. One thing you can say about smoking: You know exactly what you’re getting, especially when it comes to pipes that you […]
We can’t all go through life with just a pair of sneakers and flip-flops. Sometimes, you have to invest in a pair of high-quality dress shoes. However, you’ve probably discovered that high-end footwear almost always comes with eye-popping price tags. You’ve got to compromise on second-hand or just suck it up and take out a […]
We have a theory about those throw blankets that are barely big enough to cover your legs. The only people who seem to make them or use them are grandmothers, and the blankets are only that small because Nana got bored halfway through the sewing job. Look, we’re sure she means well. But if you […]