Who Caused the Mortgage Problems in Florida?

Did you know that mortgage problems in Florida were caused when mortgage companies sold the paperwork to investment brokers or government agencies like Freddie Mac and Frannie Mae. The paperwork was then spread split into “strips” meaning it was securitized and purchased by investors. When people can no longer make their mortgage payments, everyone loses. Unfortunately, it got worse because of the way the paperwork was handled.

However, do not let somebody else’s paperwork mistake let you think that you can get away by not making your mortgage payments on time.

 

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