A story released by Reuters, shows that major mortgage lenders and smaller lending agencies are still engaging in “robo-signing” and using suspicious paperwork to foreclose on properties, despite their assurance that they would no longer engage in the practices.
Subprime mortgage lenders, and major banks have been under investigation for their involvement on the housing crisis. The investigations, which started last year, resulted in lenders agreeing to suspend the use of “robo-signers,” and questionable paperwork in foreclosure proceedings. Their false paperwork has caused many homeowners to hire foreclosure attorneys to contest wrongful seizure of their homes.
Through their investigations, Reuters found that major mortgage lenders have continued to file paperwork that has been inappropriately altered, fabricated or contains deceitful facts.
Reuters also found that six “robo-signers” or individuals who have signed thousands of mortgage assignments are still being used by the banking industry. These individuals have admitted to signing thousands of document without checking the facts or even reading them.
Facing foreclosure is a tough time for any individual, and a foreclosure lawyer will be a needed asset in their case to negotiate with lenders.
In numerous instances, courts are finding that lenders are foreclosing on homes without actually being aware of who owns the loan. Judges have determined that seizure based on false or faulty evidence violates laws meant to protect the consumer.
Most of the homeowners facing foreclosure are behind on their payments, but the banks have a responsibility to follow the laws. Obtaining the advice of a foreclosure attorney can make it possible for these people to stay in their homes.
