I somehow doubted that this was the big deal it was being touted to be.
I am willing to bet that less than 1% of those who have been faithfully paying their mortgage would be foreclosed on and if it accidentally happened, it would not be difficult to prove that the mortgages were being paid regularly.
It interests me that civil law has become an entirely one sided thing. The homeowner(deadbeat) must observe legalities but the banks can do anything they like. If the foreclosure has been illegal then it must be reversed, it is that simple. In turn if the home buyer has committed fraud like the banks appear to routinely do, then he must be punished.
The issue is whether Bank of America owns the titles, not if the mortgages are delinquent. No way could they have traced ownership of over 70,000 titles in the past few days.
"Jill Furtado, president of the Greater Antelope Valley Association of Realtors (GAVAR) said they are not only concerned that homeowners/borrowers were contacted appropriately by the banks to discuss options for them to avoid foreclosure, but, in fact, for these banks to verify that they actually owned the mortgages they foreclosed on."
http://www.sfvbj.com/news/2010/oct/18/realtors-feel-impact-foreclosure-moratorium/
...and your nick is WebFocus? Please focus on the tremendous amount of info on the Web-Focus.
Foreclosure is NOT the issue here.
A voice of moderation and sanity.
That’s not the side where this is going to be a big deal.
Here’s the start of the “Big Deal:”