Bank of America just suspended all of its foreclosures because they themselves admitted there could be legal problems. JP Morgan Chase also halted foreclosures after they admitted they never verified loan documents. Why would these banks do such things if the problems were not that widespread?
There is a huge difference between admitting that the banks need to clean up their paperwork so it can be supported in bankruptcy court, and claiming they are trying to “...steal property from persons who either do not owe any money on it or who are current on their loans.”
The folks getting hit by foreclosures OWE money. They are NOT current on their loans. Where the banks have screwed up is in using electronic tracking where some states require paper. But the owners are not folks who own their own homes, and suddenly have a bank pretending they owe money...