2/26/08

No need to pay your mortgage

Joe Lents hasn't made a payment on his $1.5 million mortgage since 2002.

That's when Washington Mutual Inc. first tried to foreclose on his home in Boca Raton, Florida. The Seattle-based lender failed to prove that it owned Lents's mortgage note and dropped attempts to take his house. Subsequent efforts to foreclose have stalled because no one has produced the paperwork. (Source: Bloomberg)

What is happening is really crazy! What were the lenders thinking? Are they going to learn? Only if they pay. Mr. Lents is teaching them an important lesson!

George Dagnino

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