I’ve been talking about this now for years and finally 60 Minutes takes on the FraudClosure mess. This short 14 minute segment gives you an idea of how messed up the mortgage and foreclosure process is. Fraud is rampant, the banking system is out of control and neither party is working to help the little guy. This is one of the most shocking segments and if prosecutions don’t come from this we are in real trouble.
For those who believe our banking system is solvent…this should provide some ammunition against that theory. Regardless, accounting rules will continue to keep our banks sound! Comfortable with that?
Scott Dauenhauer, CFP, MSFP, AIF