Foreclosure Defense Tag

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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21 Sep Landmark Decision Creates Foreclosure Defense in Kansas

The Kansas Supreme Court ruled in Landmark National Bank v. Kesler, 2009 Kan. LEXIS 834, that MERS, a company designated as nominee on millions of real estate security instruments, has no standing and can not initiate or maintain an action to foreclose a defaulted loan. A private company, MERS was created by a combination of banks and government sponsored enterprises to facilitate electronic registration and transfer of real estate instruments. The name MERS, an acronym for Mortgage Electronic Registration Systems, describes the reason for its creation and its limitation as an entity. This is another nail in the coffin for MERS. Beginning in Florida, with similar cases in Ohio and New York, courts around the country are rejecting MERS as a real party in interest before the court. In a recent Washington bankruptcy court case, the judge was particularly blunt about his rejection of MERS.
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10 Jun Threatened With Foreclosure? Hire a Lawyer!

A homeowner threatened with foreclosure shouldtalk to a lawyer, anddoit right away. Talking to a experienced foreclosure defense lawyer immediately after receiving the first notice may pay large dividends. Despite a default in paymenthomeownersoften have defenses under stateor federal law. There are a number of lawyers in Mortgage Law Network who can quickly evaluate your situation and recommend a strategy for dealing with the lender. If you file for bankruptcy protection, your property will be covered in the bankruptcy case and the foreclosure will automatically be stayed. However, the stay is only temporary in many cases. For this reason, it is important to either choose a lawyer with foreclosure defense experience or consult with a consumer home loan specialist before looking to bankruptcy alone as a solution. While the bankruptcy case is open - up to five years in a Chapter 13 bankruptcy - the bankruptcy automatic stay will stop the foreclosure and can prevent the lender or loan servicer from foreclosing on the property based on past due payments from the time before the bankruptcy is filed.
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