Robo-signers and Illegal Foreclosure Practices Investigated by Attorney General
Posted on Oct 14, 2010 in National Issues
With thousands of troubled mortgages left after the housing collapse, financial institutions are foreclosing on homes faster than they can review the cases. In order to speed up the process, they have hired hairstylists, Wal-Mart employees, and assembly line workers with no experience or training as “foreclosure experts.” These experts would sign hundreds of documents a day, many times without reading them. This practice of evicting homeowners without any review has raised warranted concerns.
The attorney generals of forty states have begun investigations into the companies’ foreclosure practices. Pending the outcome, many foreclosures may be overturned and perhaps ruled illegal. This might be the case for mortgages handled by attorney David “Foreclosure King” Stern whose office has been accused of forging signatures, backdating documents, and inflating billing statements.
One couple and their nine children in Simi Valley, California, who feel their foreclosure was mishandled, have broken back into their home and are living there now. If you feel your foreclosure is being conducted unfairly or illegally, an attorney can help you keep your home. Contact Bloom Legal at 504-599-9997 to discuss your foreclosure proceedings.