The uncertainty about who legally owns foreclosed property grows.
“GMAC Mortgage and JP Morgan Chase have already halted foreclosure proceedings in 23 states, following allegations that workers the companies employed failed to follow the proper legal procedures in filing paperwork related to judicial foreclosure proceedings.”
“Attorneys general in California, Florida, Colorado, Ohio, Illinois, Iowa, North Carolina and Connecticut are also looking into lenders’ foreclosure procedures. Connecticut Attorney General Richard Blumenthal today asked the state’s Judicial Department to freeze all home foreclosures for 60 days.”
“Ohio Secretary of State Jennifer Brunner has accused lenders of attempting to “concoct a chain of title they never had” in signing off on documents that supposedly demonstrated they had the right to foreclose.”