Foreclosure-proof homes? - Los Angeles Times: "A U.S. District Court judge in Cleveland tossed out 14 foreclosure cases Oct. 31 on the grounds that the bank suing to repossess the properties, Deutsche Bank National Trust Co., didn't actually own them. Deutsche Bank held debt securities that were linked to the mortgage loans on the properties, not the mortgages themselves. And the judge ruled that a security backed by a mortgage is not the same as a mortgage.
That's a distinction that could make all the difference in the world -- especially to the millions of Americans facing potential foreclosure in our crumbling housing market."
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What if I have a mutual fund account that has some MBS shares? Do I get somebody's back porch or something?
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