For Fighting Foreclosures, a $100,000 Award

Categorized | STOP FORECLOSURE FRAUD

For Fighting Foreclosures, a $100,000 Award

For Fighting Foreclosures, a $100,000 Award

Attorney Tom Cox is a hero and deserves all the rewards coming to him.

NYT-

In 1989, Tom Cox, a lawyer for a Maine bank at the time, wrote the book on mortgage foreclosures (“Maine Real Estate Foreclosure Procedures for Lenders and Workout Officers”), detailing the most effective legal methods for seizing people’s homes.

After 30 years of that, he retired and in 2008, during the Great Recession, he experienced a crisis of conscience and switched sides to work pro bono for people whose homes were being foreclosed on by banks.

 In this case it took a banker to catch a banker. Mr. Cox very quickly realized that GMAC, the mortgage company he was suing in court to save Nicolle Bradbury’s $75,000 house, was mass-producing flawed paperwork to seize people’s homes illegally. This set off what would become known as the robo-mortgage scandal, leading to a $25 billion settlement that forced the nation’s largest banks to halt foreclosures.

[NEW YORK TIMES]

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