Fraudclosure mills? Please. The banks are bleeding cash, letting deadbeat home buyers live rent-free in homes they haven't made mortgage payments on for years. What you call "fraudclosure mills" are merely law firms that have cut corners in terms of producing documentation that the banks do own the properties in question. And why has this issue even come up? Because the banks cut corners in terms of processing the loan applications in the first place. It's not that they did not lend the deadbeat home buyers money - it's just the home buyers are trying to get free homes or rent-free accommodations based on the technicality that the banks are having difficulty documenting title to those homes, because of corners cut in processing title paperwork. Bottom line is that the villains in this situation are not bank shareholders or the AG, it is the deadbeat home buyers who want free homes or rent-free accommodations, and the sleazy prosecutors who want to help them get these things.
What you call “fraudclosure mills” are merely law firms that have cut corners in terms of producing documentation that the banks do own the properties in question. And why has this issue even come up? Because the banks cut corners in terms of processing the loan applications in the first place.
We’re either a nation of laws or we’re a pay to play kind of nation that deserves to fall. In these fraudulant foreclosure cases, real fraud is involved and must be punished. The class warfare must end and all must be equal under the law.
Exactly right. Even in cases where they have all the paperwork right it’s taking 2 years to move people out.
Robosigners? This makes banks villians? there has been surprising few cases of people being put of their homes when they shouldn’t of been. It’s freeloaders crying that they can’t freeload anymore.
I agree with you in principle about the deadbeats, but innocent people are also getting caught up in these issues such as folk getting foreclosed on because of mistaken addresses or other sorts of mistaken identities. The banks and the lawyers involved with realty transactions need to clean up their paperwork to make sure the lines of ownership are clear and precise. If a person wants to sell their house, that person needs to have the records of his ownership and mortgage clear without the possibility that some other party might challenge that ownership and or the right to sell that house!