Banks Still Using ‘robo-signers’ in Foreclosure Cases
29 July 2011
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According to Reuters, many major mortgage lenders are are still taking short cuts in the paperwork they prepare and file in foreclosure cases!
When this problem surfaced last year, it led to a moratorium on foreclosures and the major foreclosure mill in south Florida dissolved as the banks were forced to stop using it. It is hard to believe that banks are resorting to the same tactics again.
According to Reuters, there are at least six people who have each signed thousands of mortgage assignments in recent months. Their job is to verify the paperwork to ensure that everything is correct, but how is that possible to verify that many cases?
The battle continues to get banks to do the paperwork properly.
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