Combating Robo-Signing in Foreclosure and its Effects
In the years since the housing boom and bust, there have been many issues that have come to the surface. We see the many cases in which people were led to believe that their mortgages would be payable, even when banks or other middlemen knew that it would not be. The entire subprime market was ready to implode but kept getting fed into by many different banks. This led to a cascading effect in 2008 that led to the entire banking sector crash.
As if these issues were not enough, they have been compounded by many factors. The amount of foreclosures has deeply rattled the markets further and has caused tremendous stress and fiscal panic among thousands of families that have been tossed out of their homes. Many others face the prospect of foreclosures or penalties over mortgages that they should not have signed for in the first place.
To compound these problems, there have been countless cases of bank employees signing documents that they have not read or even falsifying signatures on vital papers. These different forms of “robo-signing” has plunged the banking practices into further scrutiny and caused severe problems for individual homeowners suffering from its effects.
As chronicled by CBS News, the practice is severe: “robo-signing involves people signing documents and swearing to their accuracy without verifying any of the information.” The various forms of this issue has caused considerable headaches for those that should not have been targeted.
If you or a loved one has faced such an unscrupulous effort by a major banking corporation, you have rights. You should not hand over your hard earned money or home due to such a practice. If these circumstances sound familiar, contact a skilled consumer protection attorney at Ehline Law for more information. Call 24/7 for a free, no pressure consultation to determine how best to proceed. Don’t face the big companies alone. We can help.