Grayson is pathological on so many, many levels.
He is a malignant liar, so I don’t buy any of his schtick.
Nutjob or not, he’s been better on this issue than most democrats and he’s right, there has been some screwy stuff going on in the mortgage business.
A few years back before my mother had her place paid off the mortgage company (companies) were selling the debt back and forth so much it was hard to know who was getting paid. When she paid it off she still got bills from 2 different companies for over a year.
Banks foreclose on homes that they don’t own [warning, Grayson]
On this he may well be right. We are facing a National moritorium on foreclosures because of this very issue, and it could well be a major problem that we are only seeing the tip of right now. This week will tell the tale for sure, but it does not look at all good right now, and the long term implications are anything but clear.
No problem, we'll "create" and register any documents you need...
I got just what you need. Lender Processing Services’ DOCX Document Fabrication Price Sheet
...for a small fee...
I read an article a couple of days ago where this indeed happened. The bank made it right.
I know of one person whose deed and mortgage were recorded in the wrong county. He’s lived in his house for 4 years, paid his mortgage every month but found out the title was never technically transferred from the prior owner. There is no record in his county of residence that he owns the property or has a mortgage on it.
Here’s a great piece of litigation out of Maine dealing with GMAC.
http://www.scribd.com/doc/38656771/Federal-National-Mortgage-Assoc-v-Nicollee-Bradbury
A few points:
1. GMAC couldn’t be bothered to put the correct address on their affidavits.
2. GMAC submitted factually challenged affidavits and complaints before, was ordered by the court to clear them up, and came back with more documents were were missing material facts. Hint to lawyers: When a judge tells you to come back with a better complaint, perhaps that’s a sign to, I dunno, come back with a better complaint?
3. The law in Maine appears to be quite clear that a foreclosure notice needs to give the debtor a “right to cure” - ie, a payoff amount necessary to clear the lien. GMAC’s foreclosure notice apparently did not follow the Maine laws.
4. The defendant went to the trouble of having their lawyer depose the GMAC robo-signer of affidavits. This deposition showed that the robo-signer is violating federal and state rules of evidence in the submission of the affidavits, and further, is signing them without a notary present. The notary notarized the documents after the fact.
5. GMAC was asking for a protective order to have the deposition sealed, claiming that GMAC and its employees would suffer embarrassment from having the deposition of their employee published.
No, really?
The judge NB’s that a prior deposition of the same GMAC employee is already extant and in the public sphere.
The judge further expounds upon the bad faith shown by GMAC, that GMAC has been reproached by Florida courts for the actions of their robo-signer before in 2009 and 2006, and that the continuation of the practice of the “limited signing officer” signing these affidavits when he clearly has no personal knowledge of the facts contained in the cases constitutes bad faith.
6. Now, for the final flourish. The judge orders GMAC to pay legal expenses for the defendant, even tho her attorney is working pro bono. That’s an especially just touch here.
NOW, for all of you defending the banks in this, here’s your $65,535.00 question:
If the banks are on the up-and-up, and fully within the law, what possible purpose would be served by keeping the deposition of their “limited signing officer” out of the public eye?
BoA and many other banks last week stopped processing foreclosures because they found people responsible to review and sign the paperwork were only pencil-whipping the process and not reading anything.