Legality of Thousands of Mortgages Thrown Into Question!

Robo-signing has been around a lot longer than originally thought, and could jeopardize the legality over the deeds of tens of thousands of homes dating back more than a decade ago, the Associated Press (AP) reports.

County officials across the country are finding mortgage paperwork that were improperly notarized or signed without proper review, dating as far back as 1998, the AP has found in its analysis.

For example, in Guilford County, N.C., about 74 percent of 6,100 mortgage documents filed since 2006 were found to have questionable signatures. 

Housing Recovery on the Horizon?

Hey folks you know just the other day I was at the office and I could not help but over hear another agent battling with a bank to replace an incompetent…okay inept bank representative assigned to the short sale he was working.  After his called ended we engaged in some interesting dialogue that resulting in him showing me a email reply that he had received from that same bank. 

Without mentioning the bank, the email basically stated that the bank in the determination of the current market value of the property did not consider or utilize any foreclosures.  In fact the bank went on to say that while foreclosures are prevalent in the marketplace they are not significant enough to essentially impact or be the driving force of sales in the marketplace.