Tag: Foreclosure

Foreclosure Fraud?


Respectfully submitted by Lawrence E. Rafferty (rafflaw) Weekend Contributor

Since the Great Recession officially started in December of 2007, millions of people have lost their homes to foreclosures.  It turns out that many of those foreclosures may have been fraudulent or in violation of foreclosure laws. According to the Southern Essex County, Massachusetts Register of Deeds, John O’Brien, a forensic audit of his recording files suggests that at least 75% of the mortgage assignments were invalid.

“My registry is a crime scene as evidenced by this forensic examination. The Audit makes the finding that this was not only a MERS (Mortgage Electronic Registration Systems) problem, but a scheme also perpetuated by MERS shareholder banks such Bank of America, Wells Fargo, JP Morgan and others. I am stunned and appalled by the fact that America’s biggest banks have played fast and loose with people’s biggest asset – their homes. This is disgusting, and this is criminal.” Nation of Change Continue reading “Foreclosure Fraud?”

Another Foreclosure Bungled: West Virginia this time

Submitted by Charlton Stanley (aka Otteray Scribe), Guest Blogger

Moran RdIt has happened again. This time in Logan, West Virginia. Schoolteacher Nikki Bailey came home from visiting a sick friend in the hospital, only to find a work crew from CTM Industries removing the last few pieces of her belongings from her house. The workers told Ms. Bailey they had been sent by a bank to clean out her house for foreclosure.

There is one minor detail. Her house was paid off in full twenty-five years ago. She showed reporters around the house, and everything was gone to the bare walls. Her pictures, diplomas, awards, and all her belongings.
Continue reading “Another Foreclosure Bungled: West Virginia this time”