Get off the sideline and help us fight! Join us at http://logchoice.ning.com
You know – it’s unbelievable – a bank suing itself over a condo mortgage.
Only with the government we have today could this kind of thing happen.
Michelle Malkin has found another example of DUH, as she is so great at doing.
Apparently, due to government regs, a bank suing someone for the assets in a foreclosure seizure has to notify all other lienholders of it’s intent to do so, but one of the lienholders (a second mortgage) is itself.
That’s right, Wells Fargo who has extended a first mortgage to the condo developer has filed a suit against the lienholder of the second mortgage, namely Wells Fargo. And, according to the reports, it has HIRED two law firms to do this.
TARP dollars at work – appropriate title for your article Michelle!
Check the link below!
Michelle Malkin ยป Your TARP dollars at work.
