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Thu Feb 16, 2012, 10:09 AM

Looks like the foreclosure fraud WAS as bad as we thought: [View all]

This was posted in LBN earlier, I think it is worth a 2nd look here:

California audit finds broad irregularities in foreclosures
Majority of S.F. cases scrutinized in review marred by violations
http://www.mercurynews.com/breaking-news/ci_19974381

Key points in the article:

1..transfers of many loans in the foreclosure files were made by entities that had no right to assign them, and institutions took back properties in auctions even though they had not proved ownership.

2..the same deed of trust to a property was assigned to two or more entities, raising questions about which of them actually had the right to foreclose

3..written transfers from the original owner to the entity currently claiming to own the deed of trust have disappeared.

4..58 percent of loans listed in the MERS database showed different owners than were reflected in other public documents like those filed with the county recorder's office.

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Reply Looks like the foreclosure fraud WAS as bad as we thought: [View all]
dixiegrrrrl Feb 2012 OP
TreasonousBastard Feb 2012 #1
dixiegrrrrl Feb 2012 #2
Fuddnik Feb 2012 #3
fasttense Feb 2012 #4
girl gone mad Feb 2012 #7
Loge23 Feb 2012 #5
dixiegrrrrl Feb 2012 #6
Bigmack Feb 2012 #8