Buying Foreclosures: Do You Own the Title?

Suppose you bought a foreclosed house and moved in with your family. You loved your new home -- until this month, when news broke that major banks had screwed up thousands of foreclosures by rushing through the process.

In at least one case, a single bank official signed as many as 8,000 foreclosures a month, falsely claiming to have "personal knowledge" of each bad loan. Thousands of people who lost their homes through foreclosure now plan to sue, claiming their home were seized illegally.

What does this mean for you?