Who should go to jail the robo signer’s. In some of the cases I read about people have not paid thier mortgage for 3 years but are still in thier homes should they go to jail?
Why do I have to pay my mortgage
At the same time just because you break some of the rules concerning how foreclosures are to legally proceed doesn't mean the borrower should get to keep the property without paying.
On the other hand, if you, as the lender, violate legal procedures you should be drawn, quartered and your parts tossed into the fields to be eaten by wild dogs ~ fair enough?
We'll get someone else to foreclose for you ~ in this tight employment market, you won't be missed.
It is a DOG EAT BANKER world eh!
If the bank can produce the NOTE - there is no problem.
Because its not a crime when you fail to pay your bills.
A mortgage is a written contract. If you fail to pay it, the contract says the bank has a right to foreclose on the property. But there is not a time limit for that foreclosure. The bank can wait for years if they want to. That’s their decision.
This is but another attempt by the government to bring pressure on the banks to prevent foreclosures. IE...the great Democrat Spread the Wealth debacle, am I right?