It will be years before all the bad mortgages are worked out of the realty market. It may take even longer before all the paperwork from the bad mortgage companies gets destroyed.
Another cache was found in San Mateo. This one had had hundreds of mortgage files for several companies now out of business. The files are now in the posession of the San Mateo Sheriff’s office. It doesn’t appear there was any foul play but it just highlights the dangers of how many people have our personal information. [full story]
The bankruptcy court should mandate that all the files get properly stored or shredded as part of any settlement.