You might think after being in the spotlight for foreclosure fraud and Robo-Signing since last fall that the country’s major Banks and Lenders would stop their illegal practices, but they haven’t. Even after they vowed this past March to stop their illegal foreclosure practices, some of the largest Banks, including OneWest, Bank of America, HSBC Bank USA, Wells Fargo and GMAC Mortgage, have produced questionable foreclosure documents nationwide.
In recent months, Reuters has found nearly ten “robo-signers” who have further perpetrated foreclosure fraud for the major Banks. Each of them have signed thousands of foreclosure and mortgage documents regarding ownership of a home and provide evidence in court for who has the legal right to foreclose. Mind you, these are the same people who in court have admitted to signing documents that they have never seen or known the details of. Judges nationwide have taken notice, many of whom have openly called out the foreclosure fraud and questionable activities of robo-signing employees. In a recent New York case with HSBC, a judge called out the “robo-signer” Christina Carter and went so far as to threaten HSBC’s chief executive officer with sanctions for the illegal actions.
According to ForeclosureFraudExposed.com, the issue at hand is much larger than just the foreclosure fraud committed by “robo-signers.” Banks still fabricate documents and assignments in order to justify foreclosing on hundreds of thousands of Americans. In many instances, assignments take place after foreclosure proceedings are filed, so in order to validate them after the fact Banks and Pretender Lenders backdate documents. The discrepancies are widespread and raise many questions while more and more courtrooms embrace that foreclosures involving foreclosure fraud, missing or erroneous documentation constitutes an invalid foreclosure. One landmark case illustrating this came out of Massachusetts this past January (US Bank v Ibanez) involving a foreclosure with lack of proper documentation.
Homeowners need to make sure that their legal documents are in order to ensure that they do not become a victim of foreclosure fraud. It doesn’t matter whether or not someone is behind on mortgage payments; the bigger issue is that Banks and Pretender Lenders must abide by strict laws in order to pursue a foreclosure legally. In many cases, they don’t. Instead they cut corners to get the results that they want, at the expense of American families and driving the economy and housing market down even further. It’s the ultimate fleecing of America, with the majority of people not even aware of it.
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