IMHO foreclosures abound because the majority of loan collateral went through Fannie and Freddie who, it appears, maintained an interest and guarantee, are the real party in interest and are still hiding debt.

Many of the homeowners we see were sucked into the Obama/Geithner HAMP scam and told they had to miss 3-4 payments in order qualify for the program. Once the payments were missed default was declared and modification was an abusive run-around for several years. Homeowners want to make payments – they are denied fair process. Fannie & Freddie want to dump the paper because it was their fault it was accepted in the first place – it appears they were complicit with the scheme, if not altogether the ring leaders.

If you have a BAC or BofA foreclosure and Assignment to either of them by MERS, or if you can’t find your loan in a trust (and even if it’s in one) Fannie or Freddie may be the real plaintiff…just hiding, complicit with being concealed.