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Borrowers, Beware: The Robo-Signers Aren’t Finished Yet
The New York Times' Gretchen Morgenstern writes about the lingering effects of the foreclosure mess created by robo-signing.
Remember the robo-signers, those mortgage loan automatons who authenticated thousands of foreclosure documents over the years without verifying the information they were swearing to?
Well, they’re back, in a manner of speaking, at least in Florida. Their dubious documents are being used to hound former borrowers years after their homes went into foreclosure.
It seems the lenders are now pursuing deficiency judgments for amounts being the difference between the debt foreclosed and the amount realized after foreclosure sale.
“Sending these cases to debt collectors when the underlying foreclosures involved unlawful robo-signing is unfair and potentially even deceptive,” said Kathleen C. Engel, a research professor at Suffolk University Law School in Boston. “Fannie Mae is not entitled to collect on those debts when the foreclosure was unlawful.”
It's a story worth reading. Which you can do here.
For your next title order or
if you have questions about what you see here, contact
Stephen M. Flatow, Esq.
Vested Land Services LLC
165 Passaic Avenue, Suite 101
Fairfield, NJ 07004
Tel 973-808-6130 - Fax 973-227-0645
E-mail sflatow AT vested.com
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