[NVDave]

Yea, like fraudulent affidavits, notary fraud, failure to produce evidence of right to foreclose.... you know, little technicalities.

BTW... just in case you persist in thinking that these are mere paperwork errors: In most states, filing a fraudulent affidavit is at the very least a gross misdemeanor and for a lawyer it is a felony. In states like Nevada, where I’m most familiar with the law, it is a Class D felony (1 to 3 years) first offense.

A substantial number (as in 10’s of thousands) of these foreclosure proceedings are based upon fraudulent documents. Then there is notary fraud, process service fraud, and we haven’t talked yet about the issues of failures to record conveyance in many states.

A judicial action of foreclosure based upon fraud can be vacated upon appeal. The case law is pretty clear on this one. Get a court to do your bidding based upon fraudulent information... and the courts don’t like looking like your patsies. First they undo what you conned them into doing, then they make you pay for the other guy’s lawyer. Then they start talking about whether or not they bring a case against you for fraud.

The best course the banks have is to stop submitting fraudulent documents, produce REAL documents so they can foreclose and have it stick. Because the fastest, best way to award a house “free and clear” of all future claims is to perpetrate a fraud upon the court by submitting fraudulent affidavits, have the case vacated upon appeal, and then the judge will probably toss in that the bankers have to pay the legal fees of the deadbeats.

Even if the deadbeat(s) don’t appeal, a foreclosure based upon phony docs will likely not have a quiet title. It will cost future buyers of the property a tidy bit in legal fees to clean up the docs and get the title quieted.

The paperwork needs to be cleaned up to make foreclosures successful and the properties ready for sale when it is all done.

[Wuli]

Again, all the issues are matters of which nameless bureaucrat signed which papers, the “right” nameless bureaucrat or the “wrong” one. In 23 states a notary is required (nice "mandated" income for notaries) and the rest of the states it is not required. Even so, the banks volunteered to pull back all their recent foreclosures with documents that weren't notarized, even though they were not required to do so in most states. Many of the other issues are germane to some states but not to all.

What NO ONE has shown is that in all the foreclosures in this current fiasco, were ANY in fact “fraudulent” because the buyers were NOT in fact in egregious default on their mortgage? From everything I have read so far, that answer is NO. So, was their paperwork errors? Yes. BUT, the financial grounds for foreclosure seem to be there in these cases. So, at the end of the day, at most, ALL the same foreclosures WILL BE refiled with all their I's dotted and t's crossed and NOTHING about the financial particulars - the heart of the issue in foreclosure, will have changed; other than the time wasted to get these houses back on the market.