[cycomanic]

Isn't it in the duty of care of the bank to make sure that the property they give a mortgage on is actually owned by the mortgagee?

I would assume that you should get the land and the bank can then sue the brothers to get their money back. Why should the mortgage be transfered to the original owners, they never agreed to it.

[ansible]

Yes, but the bank can afford more and better lawyers, so good luck getting them to eat the cost of the mortgage.

[ansible]

Just to be clear, I'm not saying this is at all the desired outcome, that the people who have been swindled out of their property lose all their money.

I'm just predicting the likely outcome.