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Florida attorney general: Moratorium may be 'counterproductive'

The attorney general of Florida -- the state most affected by the foreclosure crisis -- finally weighed in Tuesday on the questions about improperly prepared foreclosure documents.

In a letter to Bank of America, J.P. Morgan Chase and other lenders, Bill McCollum said he's "distressed" about reports that the companies "may have engaged in filing faulty affidavits in foreclosure cases."

These actions "have affected the integrity of title to real property for Florida's homeowners as well as the foreclosure process in Florida," he wrote.

Although he said a moratorium and private litigation are "counterproductive" given the state's already fragile economy, McCollum requested that executives from the companies come meet with him in the state capital of Tallahassee to discuss remedies.

By Ariana Eunjung Cha  | October 12, 2010; 3:11 PM ET
Categories:  Housing  
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Next: Ally Financial's GMAC mortgage unit reviewing foreclosures in all 50 states


The ELEPHANT IN THE ROOM (hiding in plain sight)

Because for more than 5 years, I have been sounding the alarm about FORECLOSURE DEBT COLLECTION abuses, I’m glad the fantastic occasion to expose the NUTS & BOLTS of the most ominous element of foreclosure fraud has finally come! I call it “the ELEPHANT IN THE ROOM! I hope the Florida's Attorney General prevails in investigating foreclosure mill firms who CLEARLY fabricate foreclosure documents!!

It is imperative that MILLS are investigated for INTENTIONALLY FABRICATING court documents because certain lawyers are engaged in SELF-DEALING FORECLOSURES. Most definitely, it is NOT A WASTE OF TAX PAYER MONEY to probe awful, underhanded illegalities surrounding foreclosures which have caused thousands of people to be UNLAWFULLY evicted and homeless –while unscrupulous lawyers became CRIMINALLY ENRICHED.

LONGSTANDING foreclosure frauds incorporate false CIVIL as well as BANKRUPTCY court pleadings; repetitive and illegal property flipping (thus blighted neighborhoods); “simulated auctions” and “straw buyers”; FALSE “lift stay” motions and FALSE “proof of claims;” and "fee-splitting." Certain lawyers achieve extra benefits from litigating foreclosure defense lawsuits, and MISREPRESENT to their mortgage-clients that homeowners are delaying foreclosures, but actually its continual deceptive lawyers' activities –while billing $$$$ to clients and actually committing MALPRACTICE + fraud upon the courts + fraud & illegal exploitation of homeowners!

Because fraudulent foreclosures include many facets, culmination can take years while arranging cash cow “PAWNS” needed for big pay-offs. [Super Future Equities Inc. v. Wells Fargo, et al., @ Wherefore, LIKE AMERICA NEED JOBS, FORECLOSURE MILLS NEED INVESTIGATION. State Attorneys General everywhere now need to recognize the ELEPHANT IN THE ROOM –which has been for a long time, hiding in plain sight: foreclosure mill fraud!

Posted by: lawgrace | October 12, 2010 11:19 PM | Report abuse

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