Foreclosure Defense

13 Oct 50 States to Investigate Foreclosure Robo-Signers

Attorneys General and mortgage regulators from all 50 states are joining forces to investigate robo-signing of mortgage foreclosure documents and other defects in home mortgage foreclosures.

"We believe such a process may constitute a deceptive act and/or an unfairpractice or otherwise violate state laws."

Here is today'sstatement by the National Association of Attorneys General: It has recently come to light that a number of mortgage loan servicers have submitted affidavits or signed other documents in support of either a judicial or non-judicial foreclosure that appear to have procedural defects. In particular, it appears affidavits and other documents have been signed by persons who did not have personal knowledge of the facts asserted in the documents. In addition, it appears that many affidavits were signed outside of the presence of a notary public, contrary to state law. This process of signing documents without confirming their accuracy has come to be known as “robo-signing.” We believe such a process may constitute a deceptive act and/or an unfair practice or otherwise violate state laws.
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28 Feb Transferring Rights to a Note

Foreclosure defense requires tracing the rights to a mortgage to make sure that the foreclosing party has the right to foreclose. It also requires tracing rights to the payment obligation represented by the underlying promissory note, to insure that the foreclosing party is actually owed the money. (A promissory note is a payment obligation. A mortgage creates a lien which secures a note's payment obligation and gives the right to foreclose on the lien.) By law in most states, if not all (Uniform Commercial Code, 3-203(c)), a note cannot be enforcedby an assignee. It can only be enforced by an endorsee.
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