This is an entertaining and informative article by Max and you can get a taste of it from the first paragraph:
Wayne Gretzky once said that his success was due to the fact that he focused on where the puck was going to be, not where it was. For most consumer debtors who have home mortgage loans and are involved in Chapter 13 bankruptcy cases, this Gretzkyism is somewhat of a double entendre. The fact of the matter is that most of these debtors have no idea who really owns their home mortgage loan and they most assuredly do not know why the balance owed keeps going up. Or, as Yogi Berra might say, these “guys have been double-pucked!”
Read this article if you are interested in securitization and what it means for consumers in a Chapter 13 bankruptcy….and even if you are not in a bankruptcy, you will find useful nuggets as well….