I follow the blog of Andy Miofsky, an Illinois Bankruptcy Attorney. Today’s article by him has an excellent analysis of why banks are using the “robo-signers”, employees who sign thousands of court affidavits each month to speed along the foreclosure lawsuit. In essense, the banks need to avoid trial and shedding light on their unscrupulous [...]
Each week, I will be hosting a bankruptcy and foreclosure Q&A on 1080 AM, the Answer, Thursdays at 4:45 pm. Please tune in! The Q&A discusses the latest news about bankruptcy and foreclosure and takes questions from our callers. Feel free to email me your questions to email@example.com.
As reported by Harriet Johnson Brackey of the South Florida Sunsentinel, Bank of America has already announced that it is canceling the suspension of the foreclosure process and is resuming foreclosures. BOA is preparing to file new affidavits in its foreclosure lawsuits. Although not unexpected, the length of the review was extremely short and it [...]
Bank of America, Ally (GMAC) and JP Morgan Chase are the largest banks to announce they are temporarily suspending foreclosures while they review thousands of foreclosure files. How does this impact everyone? For buyers, you may have to wait while the bank reviews the foreclosure litigation that ended with the bank owning the property. We’ve [...]
Thousands of homes in South Florida are currently facing foreclosure. In many of these cases, the bank files a foreclosure action and alleges that it has lost the original promissory note signed by the homeowner. The bank requests that the Court reestablish the missing the proper paperwork and permit it to foreclose. Many of the [...]