"It is the one house owned by two banks that sums up the unintelligible mess that America's mortgage system is in.

This detached suburban home on Staten Island in New York is at the centre of a bitter legal row between lenders Home123 Corporation and U.S. Bank.

Both have launched separate legal bids to take over the property and foreclose it, leaving the homeowner caught in the middle of a row which sums up the mess the mortgage system is in."

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