foreclosure victims: 60 Minutes Segment on Mortgage Fraud - Unbelievable!!!
- 04/05/11 02:48 AM
I received the following from an appraisal organization in Illinois. One must stop and wonder, at what point will the lenders be held accountable? The lenders claim they are not to be held accountable since they contracted the work out. This is akin to a broker not being responsible for the actions of their agents. The public needs to know this!!! http://www.cbsnews.com:80/video/watch/?id=7361572n&tag=contentMain;cbsCarousel … (3 comments)
foreclosure victims: How Far Back Does the Foreclosure Fiasco Go?
- 10/11/10 04:59 PM
Recently, BofA halted foreclosures nationwide recognizing errors in the process being used which approach criminal actions of forged documents and other improper actions. As an appraiser, I must keep all files 5 years after completion and I know Realtors are under similar obligation. Lenders are supposed to keep all documents for the term of the loan. Now comes the difficult question: How far back do these improprieties date? What an upheaval in the entire real estate market if this starts a domino effect of reversing foreclosures and even reinstating ownership rights. Will we next see TV commercials similar to those run … (6 comments)
I received the following from an appraisal organization in Illinois. One must stop and wonder, at what point will the lenders be held accountable? The lenders claim they are not to be held accountable since they contracted the work out. This is akin to a broker not being responsible for the actions of their agents. The public needs to know this!!!
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