As we have come to learn, banks have attempted to take away people’s homes, even when they had no legal right. They robo-signed documents and created paperwork to try to show that they had legal standing to take a person’s house away.
But judges nationwide have been persuaded by Miami foreclosure lawyers and others throughout the state and country to not award a home in foreclosure to the bank without proper documentation. Because bundles of home mortgages are bought and sold on Wall Street constantly, the banks have to be able to prove that they own a person’s Miami foreclosure.
A recent The Rachel Maddow Show on MSNBC.com addressed this issue. New York Attorney General Eric Schneidermann — one of the chief opponents of a large-scale settlement between states and banks — has been tapped as the head of a new Obama administration committee through the U.S. Attorney General to look at Miami foreclosures as criminal acts.
Schneiderman called the crashing of the country’s economy a “man-made disaster” and the committee now has the authority to look into bank acts and “figure out exactly what happened and hold anyone who was responsible accountable.”
He said that many of the bundled mortgages were deposited into New York and Delaware trusts, which is why attorneys general there have been at the forefront of the prosecution of bank officials.
The new task force now has federal jurisdiction and resources, which gives officials more time and money to look closely at bank actions and violations of law. Statutes of limitations and laws are different for the federal government than for certain states, which also gives this panel more power.
Our Miami foreclosure lawyers would only question why it has taken so long for an action like this to take place. The nation’s economy has been trending downward for years, and the government’s initial foreclosure solution plans obviously didn’t work. So, why did we have to wait until 2012 to put together a group of people who want to look into the crimes that banks committed?
Lawyers nationwide are thankful at least that it has finally happened. Owners of Miami foreclosures should take comfort in the fact that finally there is a dedicated group that plans on holding bank officials criminally accountable for their actions. Unfortunately, as news reports have indicated, banks are willing to stoop as low as shredding documents and altering paperwork to get away with what they’ve done, so it will be interesting to see how much information these investigators are able to find.
Meanwhile, Miami foreclosure lawyers will continue doing the same thing — bombarding banks for documents and fighting back on behalf of homeowners, who are being forced to act as squatters in their own homes. Negotiating from a position of strength is critical to showing these banks that the homeowner won’t back down and let their family’s home be snatched away based on unlawful actions and violated rights.
If you’re battling foreclosure in Miami or the surrounding areas, contact Jacobs Keeley for a confidential appointment to discuss your rights. Call (305) 358-7991.
More Blog Entries:
A Miami Foreclosure Is Not Only a Tragedy, But a Crime Scene: Part 3: January 3, 2012
A Miami Foreclosure Is Not Only a Tragedy, But a Crime Scene: Part 2: January 2, 2012
A Miami Foreclosure Is Not Only a Tragedy, But a Crime Scene: Part 1: December 27, 2011