"Robo-signing" refers to the practice many banks and their employees have been accused of utilizing which includes employees essential sitting in a room signing thousands of documents without reading them. Rob-signing has been a wide spread practice throughout the nation in foreclosure cases. Many foreclosures have been rife with "robo-signed" documents and some industry official believe homeowners have been wrongfully foreclosed upon as a result.
However, banks and mortgage lenders are now beginning to be held responsible for robo-signing practices, both past and present. Goldman Sachs, Litton Loan Servicing LP, and Ocwen Financial Corporation, after extensive negotiations, have agreed to withdraw active foreclosure cases if they contain robosigned affidavits or inaccurate affidavits. Hopefully, robo-signing will soon come to an end as these firms have further agreed to reinforce supervision of foreclosure counselors and fire all foreclosure attorneys who have been found to have questionable document practices or who face sanctioning by their state's bar.
If a home has already been wrongfully foreclosed upon, the settlement requires each company to return the property involved to the homeowner, or provide adequate compensation for the loss.
If you believe your home being wrongfully foreclosed upon due to robo-signed documents, contact Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Lawyer today to review your case and see what defenses may be available to you. The first consultation is free!
