Clouded Titles | Banks Must Face Massachusetts AG Coakley Foreclosure Practices Lawsuit

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Clouded Titles | Banks Must Face Massachusetts AG Foreclosure Practices Lawsuit

Clouded Titles | Banks Must Face Massachusetts AG Foreclosure Practices Lawsuit

I’m sure every state has similar practices engaged by the banks…so why not go after them?


Business Week-

JPMorgan Chase & Co. (JPM), Citigroup Inc. (C), and Wells Fargo & Co. (WFC) must face claims over home foreclosure practices in a lawsuit brought by the Massachusetts attorney general, a judge ruled.

Allegations that the banks violated state law by conducting invalid foreclosures can proceed, according to a decision by Justice Judith Fabricant of Suffolk County Superior Court in Boston dated Nov. 30.

Invalid foreclosures resulting in properties with clouded titles may have caused harm to third-party purchasers “and the real estate market as a whole, and thereby to the public,” Fabricant wrote.

[BUSINESS WEEK]

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