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The Next Housing Shock

60 Minutes

Sunday, April 3, 2011

As more and more Americans face mortgage foreclosure, banks' crucial ownership documents for the properties are often unclear and are sometimes even bogus, a condition that's causing lawsuits and hampering an already weak housing market. Scott Pelley reports.


Transcript

60 Minutes Overtime: Mortgage mess: who really owns your mortgage?


Have you contacted your mortgage servicing company to find out whether your mortgage has been bundled and sold? Did you get a clear answer and a copy of your mortgage paperwork to back it up? Share your experience with other homeowners.

Extra: "Save the Dream" events

Bruce Marks, founder and CEO of the nonprofit Neighborhood Assistance Corporation of America talks to Scott Pelley about his "Save the Dream" events and how foreclosures are causing a crisis in America.


Extra: Eviction reprieve