Banks drop foreclosures in Southwest Florida
Hundreds of lawsuits dismissed
1:10 A.M. — Banks in recent weeks have been dropping hundreds of their Southwest Florida foreclosure lawsuits instead of facing defendants at trial, according to local attorneys and court records.
Opinions varied sharply on whether that means banks are just taking a breather before refiling with stronger evidence – or giving up for good on hopelessly flawed cases.
Some foreclosures at large law firms were never actually read by the attorneys who filed them here and elsewhere, and some of the mortgages that ended up in mortgage-backed securities sold to investors were never legally transferred by the banks, defense attorneys have alleged.
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It looks like the tsunami of lawsuits that are not working out for the banks are going away. It must be very obvious at this point that to prosecute the action, they will be using fraudulent and forged documents. The judges are getting much smarter. This is a very good thing.
1000’s across Florida? News didn’t pick that up?
I THINK THE REASON OUR MAINSTREAM MEDIA IS NOT REPORTING ABOUT THE FORECLSOSURE MUST BE THE SAME REASON OUR GOVERNMENT IS IGNORING IT. THEY ALL MUST OWN STOCK IN THESE BANKS OR THE ACTUAL MORTGAGE TRUSTS.
WE DO NOT KNOW WHOM OUR INVESTORS ARE. ALL WE KNOW THEY GAVE EACH TRUST A RATING. WHICH MEANS THEY BET ON WHICH LOANS WOULD FAIL AND WHICH WOULD NOT. IT WAS GAMBLE. I ALSO HEARD THAT THE BUILDERS WERE INCREASING PRICES BECAUSE “EVERYONE”ELSE WAS AND IF THEY DID NOT THEY WOULD LOSE OUT. IT WAS PONZI SCHEME. IF YOU DIDNT GET IN ON IT THEN YOU LOST OUT. AD. ON OUR DOLLAR. THESE ARE HOMES PEOPLE LIVE IN WITH KIDS. I WISH THEY WOULD HAVE PICKED SOMETHING ELSE TO BET ON. SHOULD OF INVESTED IN HORSE RACING OR BROUGHT BACK JAI LAI.