Honor system for foreclosure paperwork has led to illegal Colorado seizures, lawyer surmises - The Denver Post

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Honor system for foreclosure paperwork has led to illegal Colorado seizures, lawyer surmises – The Denver Post

Honor system for foreclosure paperwork has led to illegal Colorado seizures, lawyer surmises – The Denver Post

The Denver Post-

Thousands of Colorado homes were taken in foreclosure in recent years by banks that probably never had the right to do so because no one bothered to challenge the process, said a lawyer who worked for the state’s biggest foreclosure law firm.

Lawyers often blindly sign a document attesting that the bank they represent has the right to foreclose — allowable under Colorado law — without ever actually seeing the original loan documents, attorney Keith Gantenbein said. He worked at Castle Stawiarski, where more foreclosure cases originate than any other law firm statewide.

Gantenbein said he and other lawyers signed “tens of thousands” of documents known as statements of qualified holder. The papers certify lenders’ right to foreclose, generally with little more than an e-mail from a bank or loan servicer telling the lawyers to file the case.

Read more: [DENVER POST]

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