Many who read this blog or follow financial news are familiar with the promises from top Banks in the US to stop the filing of fraudulent and faulty foreclosure documentation. A recent Reuter's investigation proved that many of the same companies are still utilizing the same lackadaisical practices that stifled America's housing market and plunged thousands of homeowners into foreclosure.
The article mentions 87-year-old resident of Immokalee Florida, a town at the epicenter of the foreclosure crisis in Collier County. OneWest Bank filed foreclosure paperwork in that was peppered with problems, namely in the assignment of mortgage. But this key document was not signed and recorded with Collier County until some months after OneWest filed the foreclosure!
The Reuters investigation also identified at least six robo-signers which appear on thousands of mortgage assignments filed by banks in recent months. Some of the individuals have even appeared at depositions only to claim that they never read or checked the assignments, and one, when asked what an assignment of mortgage is, replied: "I'm really not sure."
It's fairly easy to see that the recent settlements between Banks and investors have done little to stop these questionable practices. The banks seem to be saying that providing proper documentation doesn't matter, because many of these homeowners are in fact delinquent on their mortgages. Although that might be the case, it doesn't give the bank carte blanche authority to just take people's homes while not following the legal requirements to do so.
For now, Courts tend to disagree with this analysis, for whatever reason. Until Banks are held more accountable and made an example of, the fight for homeowners is still an uphill battle. Florida Foreclosure Defense attorney's are working to help turn the tides. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today for a complimentary consultation to determine what potential foreclosure defenses are available to you.
