Although this article begins by telling the story of a man who was able to dodge making his mortgage payments for the last eight years because of the same issues coming to light on a much larger scale today, it goes on to provide a very detailed summary of the various legal issues involved in what many [...]
Archive of posts tagged New Foreclosure Crisis
New Foreclosure Crisis Could Give Some Borrowers Leverage in Negotiating Lower Payments Via Modifications
Revelations that some lenders may have used “robo-signers” and possibly committed other acts of fraud related to due process of foreclosure may give some borrowers leverage in trying to negotiate options to save their homes, including loan modifications. It’s important to note that foreclosure in Texas is non-judicial, which means it is essentially a private [...]
MERS Issues Press Release Clarifying Its Role In Tracking Ownership of Notes
MERS, the electronic registration system that tracks the ownership of mortgage notes nationwide, issued a statement attempting to clarify its function in the registration of mortgage documents. Article from Nasdaq.com
Foreclosure Mills at Heart of New Foreclosure Crisis
Among many of the revelations to surface from the new foreclosure crisis are allegations of foreclosure mills, companies that allegedly forged and backdated documents related to the processing of foreclosure paperwork. In addition to the obvious issue of fraud, this brings to light possible legal issues with regards to the due process of law, which [...]
White House Official Questions the Need for a National Foreclosure Halt
A top White House official questioned the need for a nationwide moratorium on foreclosures because there are undoubtedly cases where borrowers have legally defaulted on their notes and should lose their homes. It remains to be seen just how widespread the alleged fruad exists with regards to paperwork used to evict homeowners delinquent on their [...]
