Attorneys General Join Forces in Robo-Signing Probe

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Attorneys General Join Forces in Robo-Signing Probe

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Take me to your lender.

In a welcome and much-needed turn of events for struggling American homeowners, all 50 state attorneys general are banding together to crack down on such sketchy foreclosure practices as “robo-signing,” as Forbes reported Wednesday.

Forbes:

Attorneys general of all 50 states have put on a “bipartisan multistate group” to investigate if faulty procedures were used to sign foreclosures which lead to evictions, as the foreclosure freezes extend with GMAC, one of the largest mortgage providers, deciding to review its procedures at a nationwide level. Bank Of America has already imposed a “freeze” on all of its foreclosures.

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By gerard, October 13, 2010 at 2:49 pm Link to this comment

What’s fair about people losing their homes when papers used were illegal, yet when illegality is discovered banks don’t have to give back the homes and go back to square one and clear up their mistakes? The threat is that the “market” will be “threatened.” Well, so is it necessary to tolerate penalizing home owners for the mistakes banks make when they are too much in a hurry to make money? Why should homeowners pay for banks’ mistakes?

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