The Atlanta Journal-Constitution-
A company providing services to lenders and home buyers says a recent Georgia court case that tightened the enforcement of foreclosure laws will raise questions about the ownership of thousands of homes, create uncertainty in the housing market and result in many lawsuits.
The July court ruling says foreclosure documents and public foreclosure notices need clear identification of the loan owner or those legally able to negotiate for the owner, which many recent documents lacked because of the complex ways in which loans were created and sold to investors.
“…the Court of Appeals’ decision will cause great uncertainty in Georgia foreclosures as to the validity of a foreclosure, particularly those foreclosures that have occurred since 2008…” said attorney William Brown in a brief filed to encourage the Georgia Supreme Court to review the ruling.
[The Atlanta Journal-Constitution]
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The Dept of VA is purchasing all these loan that the Wells Fargo Bank did not have a financial interest in and those titles are cloud, however they are so shell shock over at the Dept that they don’t know the foreclosure rules in any State like with the OCC in the Treasury Dept audit of those clowns OIG 12-054.
HUD collects a billion dollar from BOA and $156 million from Citi but when it comes to calling out Ginnie Mae for its Kingpin role in the Washington Mutual Bank government insured scheme where billions of dollars of veterans & active service member home are fraudulent sold by Wells Fargo Bank and purchase by the VA is not address?
It sound like election time hide the facts what harm the federal government has in the housing crisis!
I am so happy to read that the Courts are taking up this cause and holding the Servicers accountable. If the banks had done things the correct and legal way from the beginning, none of this would be an issue. Greed, corruption and an utter disregard of the law and due process created this choas and suffering for thousands not to mention the financial meltdown that almost destroyed this country!
What does it take to wake people up???? The bank never loaned any money! In fact the bank is the borrower not the lender!
SO the bank is the lender, I am paying my mortgage account for what service, credit or value?