A foreclosure fraud that is five years old in finally coming to light in Florida. William Trudelle a long time anti-foreclosure fraud activist points to several articles that prove major foreclosure mills like The Florida Default Law Group were using false evidence to obtain mortgage foreclosures. These issues lead to some asking; Why would a bank sell my property for 50% of what I owed, instead of working with me? The answer is the bank could not prove they were the mortgage lender and note holder, so 50% of your balance is pure profit when you are foreclosing on a mortgage you do not own.
The current foreclosure climate in Florida is not improving the states economic status, it is making it worse, states Trudelle. What's going to happen when an owner discovers he was foreclosed by a lender who had no standing to sue? What going to happen to the person who thought they bought a home with a good title? How are title insurance companies going to survive the next wave of lawsuits from people who are going to be filing motions per flrida rule of civil procedure 1.540 to get their home back? What are bankrutcy courts going to do when they discover lenders would not negociate with the debtor yet let the property go 50 cents on the dollar on the curt house steps in foreclsoure? Read the recent report by the Florida Times, which describes how foreclosure mills are outsourcing fraud to accomplish illegal foreclosures. Subscribe to this sites RSS, look to the top left and auto submit to your social network, become an nformed member.
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