Where's "Meatloaf" when you really need him?
Stop right there, I need to know right now, before we go any further...
To foreclose or not to foreclose, that is the question.
Right now it appears that the answer is
At least for most of the big boys.
All of this is not yet totally clear, but what I'm hearing is that some executives in banking/financial institutions, who are suppose to review the documents before signing off, and authorizing the beginning of the foreclosure process, just didn't bother to do so. They engaged in what is being referred to as
That would be; just ignore your obligation, as required by law, in many/most cases, and sign on the dotted line as often, and as quickly as possible.
Please feel free to just ignore any laws or regulations, and the effect that you are having over your fellow man, and just sign away.
It reminds me of the olde saying about voting in Chicago, "vote early, vote often."
I just can't resist pointing out that many of these employers work in institutions which are/will be
from the national licensing requirements. And why should they be licensed since they feel it's okay to
make their own rules.
Now part of the story I heard, and correct me if I'm wrong, is that some dear employee of Bank of America, what a surprise, admitted that she could not/would not swear to the fact that the documents satisfied foreclosure requirements, as she had not reviewed the documents. She did sign the documents, however stating that she had.
Shame on her and everyone else in the industry who did the same.
Now I'm willin to bet cha that many of these foreclosures did not satisfy foreclosure requirements, because if they all did, as the institutions had stated, then they wouldn't be bringing foreclosures to a grinding halt.
So what's going to happen? Right now I don't know. There's a lot of speculation, but this one's going to need to play itself out.
However, it appears that right now the answer to the question;
to foreclose or not to foreclose
STOP Right There!