Tag Archives: RoboSigning

New Jersey Lawyer Says Fraudulent Robo-Signing Creates Foreclosure Factory

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Westwood, NJ (PRWEB) February 7, 2011

These days, many homeowners are below the impression that they can take no action and have no rights in defending their house. The underlying idea in foreclosure as with any legal matter in the United States is “due method.” In instances exactly where banks have circumvented due procedure, they are in violation of the law and the case can be dismissed. It is not sufficient in this day and age to know your rights, 1 has to exercising those rights. Banks are utilizing fraudulent paperwork and taking shortcuts to trigger foreclosures. Homeowners have the proper to question the validity of the supporting paperwork and documentation, and bring the matter prior to a judge.

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“Robo-signing doesnt capture it. Youre talking about fathers and mothers and children and pets and schools, and all the items that make up living its not just a bunch of technicalities or useless paperwork,” according to Josh Denbeaux of Denbeaux &amp Denbeaux, a Westwood law firm top the fight against fraudulent foreclosures.

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In truth, the sad truth is, occasionally a bank will foreclose on a home that is not in default, leaving residence owners at their wit’s finish.

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Take one particular New Jersey homeowner for instance: they were paying their mortgage, taxes and insurance coverage on time to the bank, but due to the fact the bank was paying the taxes on a various (non-existent) address, it looked as if the taxes weren’t becoming paid. All of a sudden, the bank decided to initiate foreclosure proceedings, and ignored the protests of the homeowner. Although the bank does not have the appropriate to do this, it can trigger foreclosure proceedings if it desires to. Sadly, for unsuspecting property owners who are performing the correct thing, they wind up having to take the bank to court to protect their house. Whilst it might not be the intent of the bank to do the wrong factor – it is clear that they are not performing the correct point in this case. What is essential here is that the homeowner has the right to question the validity of the supporting paperwork and documentation, and bring the matter just before a judge.

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“Its grow to be a massive factory operation, only it isnt a factory that produces widgets,” said Denbeaux. “Its a factory that produces heartbreak and insanity.”

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In another case, a bank has attempted to proceed with a foreclosure, nevertheless, with out getting an actual mortgage assigned to them which would enable them to proceed with foreclosure in the occasion of a default. Whilst this would look like an apparent error, the practices of refinancing loans by residence owners and purchases of mortgages by banks and other institutions can at times lead to shortcuts being taken. Laws governing real estate are old and especially tied to state and regional procedures in recording transactions and transfers. Lately, instances are cropping up where signatures have been not obtained on documents, and documents simply do not exist that give a bank or institution the correct to claim them, hold the mortgage, and for that reason, have a proper to foreclose on a home. But as we have observed ahead of, banks never necessarily do the proper issue.

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Today, many homeowners are under the impression that they can take no action and have no rights in defending their house. The underlying concept in foreclosure as with any legal matter in the United States is “due approach.” In instances where banks have circumvented due approach, they are in violation of the law and the case can be dismissed. It is not adequate in this day and age to know your rights, 1 has to workout those rights.

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“The Supreme Court has ultimately stated, ‘Wait a second lets see whats going on,” says Denbeaux. “The courts have ultimately come about.”

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Property owners want to be in a proactive state of mind in order to know their rights and make very good selections about their possibilities when dealing with banks. If you have questions about a property foreclosure, or are possessing difficulty in obtaining a property loan modification please get in touch with Joshua Denbeaux of the Westwood New Jersey law firm, Denbeaux and Denbeaux to answer your inquiries at 201-664-8855. On the net at http://www.denbeauxlaw.com or send an e-mail to pr(at)denbeauxlaw(dot)com

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Find More Loan Modification Press Releases

Kramer Law: Congressional Oversight Panel Weighs in on Robo-Signing

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Calabasas, California (PRWEB) June 19, 2011

The Law Offices of Kramer and Kaslow released comments from lead attorney Philip Kramer with regards to the most recent Huffington Post write-up on the findings of the Congressional Oversight Panel. According to the article, the Congressional Oversight Panel, a federal watchdog produced to keep tabs on the bailout, says that the “robo-signing of affidavits served to cover up the reality that loan servicers can’t demonstrate the details necessary to conduct a lawful foreclosure. In essence, banks might be unable to prove that they personal the mortgage loans they claim to own,” the panel mentioned.

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The write-up also quotes Sheila Bair, the chairman of the Federal Deposit Insurance Corporation. Blair stated at a Senate panel last month that “flawed mortgage banking processes have potentially infected millions of foreclosures. The extent of the loss cannot be determined until there is a extensive review of the loan files and documentation of the approach dealing with difficulty loans,” she added.

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The Huffington Post reports that regardless of that appraisal, Bair, along with Treasury Secretary Timothy Geithner and Shaun Donovan, secretary of Housing and Urban Development, have stated they want a quick settlement.

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Philip A. Kramer, a Southern California lawyer whose law firm Kramer &amp Kaslow has launched half a dozen consolidated plaintiff litigation suits against banks for such behavior commented. Of course they want to settle this swiftly,” mentioned Kramer. “If the wrongdoing by the banks is looked at closely, if it is looked at systemically, I suspect that it may possibly effectively turns out there are are hundreds of thousands of loans, maybe millions and that is not an exaggerated quantity for which the banks merely do not have the suitable paperwork to legally foreclose, significantly less prove ownership.

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According to the Huffington Post report, Kramers views are getting some significant help as the Attorneys Basic of all 50 states look into the matter. The write-up says that New York Lawyer Common Eric Schneiderman has been specifically aggressive and has targeted Bank of America, the most significant U.S. bank by assets, in a new probe that questions the validity of potentially thousands of mortgage securities and their associated foreclosures, two individuals familiar with the matter stated.

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The Huffington Post reports that, The inquiry could prove explosive: Wall Street’s excellent mortgage securitization machine took millions of house loans and bundled them into securities for sale to investors. If the legal measures that guide securitization — like taking mortgage documents from a single party to yet another, a crucial step below New York law — had been not undertaken, then the investors who bought the bundled loans could force the companies to acquire them back, compelling them to eat huge losses.

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Philip Kramer is swift to point out that there is yet another conclusion to Schneidermans investigations. If the New York Lawyer Common finds that these securities aren’t valid economic instruments at all they could take action under state law. They may finish up awarding the houses to the borrowers simply because the banks can not prove ownership.

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Far more of Philip Kramers comments can be found at the Kramer and Kaslow blog.

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior partner of the Law Office of Kramer &amp Kaslow, in Calabasas, California. Kramer &amp Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

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Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes commercial litigation and trial advocacy, with a concentration on company litigation, and actual property matters. He has prosecuted and defended circumstances for over twenty 5 years.

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Mr. Kramer is a licensed actual estate broker and has spent considerable time delivering legal solutions in connection with real estate problems relating to loan modification and loss mitigation, land use and zoning, environmental concerns, easements, construction and improvement, finance, and landlord tenant matters.

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Mr. Kramer is admitted to practice prior to all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 situations. He has appeared on nationally televised applications regarding pre-trial process and trial technique and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer often lectures on a broad spectrum of various legal and organization troubles.

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Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

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Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization dedicated to bringing professionalism and civility back into the legal profession. He also serves on several Boards of Directors and serves as an officer in a lot of organizations. For far more info call (818) 224-3900 or go to http://kramer-kaslow.com

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