Easy lending = difficult collecting

Daily Business Review:
As home foreclosure cases piled up in his court, Miami-Dade Circuit Judge David C. Miller began to notice more affidavits from mortgage lenders stating they couldn’t locate the borrowers.

“The ones that caught my attention very early on were the ones that said they didn’t have driver’s license information or they didn’t have employment information for the borrower,” the judge said in an interview.

“Did someone just walk in off the street and say, ‘Gimme money?’ ” the judge asked sarcastically. “I don’t think that’s possible.”

In the words of the Reverend Jeremiah Wright, "The chickens are coming home to roost!"

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