Banks lose crucial Massachusetts foreclosure case

The state Supreme Judicial Court yesterday upheld a judge’s decision saying two foreclosures were invalid because the banks didn’t prove they owned the mortgages, which he said were transferred into two mortgage-backed trusts without the recipients’ being named.

Weaselly spokespersons for the various banks involved amusingly tried to spin this as minor and just a little blip, but in reality the ruling is expected to trigger many more lawsuits and force the mortgage industry to change.

Imagine, the effrontery of that judge to insist that banks actually show ownership of the properties they are foreclosing on. I think he must be socialist.

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