All 50 States to Investigate Robo-Signing on Foreclosures

All 50 States to Investigate Robo-Signing on Foreclosures

10/18/2010

Ohio Attorney General Richard Cordray, and other attorneys general from every state in the U.S. will be investigating the fraudulent foreclosure filings done by various lending institutions.

Linda Cook, one of those who have battled lenders, said that foreclosure documents can really be laden with errors. Cook said that they were all happy. She is the Ohio Poverty Law Center senior staff attorney, which helps homeowners facing financial trouble. Cook also said, “Even before this issue came to light, the legal-aid community had noticed a number of material problems with the documents.”

She said one of the problems included was that lenders could not provide the right documentation that a borrower has defaulted payment or that they hold a debt. Another problem is in filing. One example was a recent case where the affidavit was made by somebody in Florida but the document was notarized in New Jersey.

Another law-center staff attorney, Joe Maskovyak, said that dollar amounts are also inaccurate. He further added that lenders are sloppy in getting accurate numbers.

A lawyer practicing real estate law, Kristin Rosan, said that there are cases where there is a difference between the amount claimed by the lender as due them, and the amount that they mention in their complaint.

The investigation that the attorneys general would be conducting would concentrate on the robo-signers and those who stated that they had reviewed the documents. The investigation would also ascertain whether the documents were signed with a notary present since most states require such.

Cordray said that the whole thing was, “…fraud being perpetrated against the courts.”

WRITTEN BY:

blakeh@wellsdrew.com