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Congresswoman Encourages Squatting in Foreclosed Homes

Congresswoman Encourages Squatting in Foreclosed Homes
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Jeff Squires
  • 5 february 2009

As the economy continues to spiral downward, a US Congresswoman from Ohio, Marcy Kaptur, is encouraging her constituents to squat in their foreclosed homes. She is advocating that homeowners should simply stay put until the bank “produces the note” that proves it owns the home.

Because mortgages have been divvied up so much, the banks are having a hard time finding the original paperwork – and by telling a bank to “produce the note,” a homeowner can delay foreclosure by forcing the lender to prove the suing institution is actually the same which owns the debt.

+economy
+Finance & Money
+financial services
+home
+Home & Garden
+recession
+US
+USA
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