Poster Child for the Foreclosure Mess: He lost his house without ever having a loan!

By
Real Estate Broker Owner with Realty Arts

Poster Child for the Foreclosure Mess:  He lost his house without ever having a loan!

North Carolina Attorney General Roy Cooper is getting energized in the hunt for inappropriate activity by the banks in foreclosure proceedings. 

He wants the largest to stand and deliver an explanation of their processes and controls.  "He also says his office is in possession of a deposition in which a BofA employee ' admitted that she routinely signs (foreclosure) affidavits without even reading them.'"  Would that be "robo-signing?"  I think so.

Read more: Cooper: BofA foreclosed on homeowner who paid cash - Triangle Business Journal

How crazy is THAT?  I mentioned it at a breakfast this morning, and wasn't even out on a limb.  For once.

How can Bank of America claim any credible due diligence when they took a house from a guy who borrowed NOTHING?

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Scan the QR Code with your Smartphone to Email MeQR CodeMike Jaquish, REALTOR®

919-880-2769 www.RealtyArts.com

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Independent Broker/Owner, Realty Arts

130 Towerview Court,

Cary, NC

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Topic:
ActiveRain Community
Groups:
KELLER WILLIAMS CAROLINAS
North Carolina Real Estate
Raleigh-Durham Real Estate Professionals
Realtors®
The Ninety-ninth Percentile
Tags:
foreclosure
foreclosure affidavits
robosigning
north carolina attorney general
roy cooper

Comments 12 New Comment

Rainmaker
763,958
Mike Jaquish
919-880-2769 Cary, NC, Real Estate
Realty Arts

Denise,

Agreed.

And minutes ago CNBC announced that Bank of America will be suspending foreclosures in all 50 states.

October 08, 2010 11:11 AM
Rainmaker
1,196,004
Michelle Gibson
REALTOR
Hansen Real Estate Group Inc.

Mike - I wonder how often this happens and how often it's kept quiet.

October 08, 2010 10:12 PM
Rainmaker
763,958
Mike Jaquish
919-880-2769 Cary, NC, Real Estate
Realty Arts

Michelle,

I hope not too often...

October 08, 2010 10:43 PM
Rainer
134,275
Jim O'Donnell
Raleigh Cary Realty

I heard about this.  That is absolutely nuts.  Someone has to stop this

October 13, 2010 02:26 PM
Rainmaker
763,958
Mike Jaquish
919-880-2769 Cary, NC, Real Estate
Realty Arts

Jim,

Agreed.

October 13, 2010 04:36 PM
Rainmaker
763,958

Mike Jaquish

919-880-2769 Cary, NC, Real Estate
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Cary, NC, blog. I'm in Cary, North Carolina, writing about Real Estate, including Cary, Raleigh, Apex, Wake County, NC, and around the USA..