I bought a home on mortgage in 2006. I recently found out that if I walked in and laid down every last dime that I owe on this place that I still could not own it, because as of 2007 my mortgage company who holds the lien no longer exists, though I have been paying my monthly mortgage to a "collection company" working for my non-existent lien holders debtors, and has no authority to transfer the lien to me.
I could pay it off but I won't own it, and I can't sell it.
So you tell me, should I continue to pay monthly payments for something I'll never have legal right to claim? Or should I pay the price for my "easy money route" of working 20 yrs saving for a downpayment and mal-investing? Or am I victim of fraud and my deed awarded to me if for no other reason than the lien holder does not exist and property possesion is 9/10ths of the law? You probably call that "mortgage forgiveness" or "mortgage amnesty" - I call it compensatory and punitive damage award.
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