Court Rules On Illegal Foreclosure Process For Bank Mortgages
By Kalinda Rose Stevenson, Ph.D.
Unlawful Foreclosure Process
The law matters. That is the fundamental point of the landmark decision by the Massachusetts Supreme Judicial Court concerning unlawful foreclosures by two of the nation’s largest banks. This is one more decision about how an illegal foreclosure process continues to wreak havoc on the economy and on the lives of millions of property owners who have lost property in foreclosures to banks that had no illegal right to foreclose.
Richard Zombeck has written an excellent article, Massachusetts Courts to Banks on Foreclosures: The Law Matters on the issues and implications of this ruling.
The Massachusetts Supreme Court has ruled that these Major Banks must follow the same laws as everyone else and that assignments are not optional in Massachusetts. It’s obviously they didn’t want the public to know what they were doing, coupled with their greed in trying to deliberately avoid the payment of the required recording fees, has placed them in the mess that they are in today. Massachusetts Courts to Banks on Foreclosures: The Law Matters
Foreclosure Fraud In Bank Mortgages
This decision has profound implications for property owners, especially people who have lost their homes to foreclosure or are now in the foreclosure process. Banks are foreclosing on mortgages they do not hold.
This is a huge win for the taxpayers, this case will send shock waves throughout the MERS community as they now have been exposed, and they are going to have to get their checkbooks out and reimburse the taxpayers. These major banking conglomerates deliberate scheme to not file the proper paperwork together with the “robo-signers scandal” are the major reasons why our housing market is in the economic turmoil it is in today. Massachusetts Courts to Banks on Foreclosures: The Law Matters
If you are a real estate owner facing foreclosure, this ruling is one more reason to challenge the right of the bank to foreclose.
Find out why you have more options than losing your property to illegal mortgage foreclosures at Mortgage Debt Reset.
For Your Financial Success
Dr. Kalinda Rose Stevenson
The Story Transformer
Creator of “The Story Transformation Process”
[Cross-published on No Money Limits Blog]
