Foreclosures Backfire on Lenders With Quiet Title

Stop Foreclosure Fraud Backfiring on Lenders – Where Are the Buyers?

August 1, 2011 By Vanessa Duvale

stop foreclosure

 

For millions of consumers that have been robbed of their homes due to foreclosure fraud and the illegal practices alleged Lenders used to seize properties, it seems like a rather ironic twist to the tale. Saddled with millions of homes that cannot be sold and the increasing cost of maintenance, the alleged Lenders are resorting to a unique solution to their problem, one which their foreclosure fraud tactics would not have forecasted.

With over 1.7 million homes currently in some stage of foreclosure and more currently on the market, it would seem that no one wants to pick up another house. Sure, there is an investor here and there that will pick some up, but there is not enough demand in this down market and economy to make a dent in the numbers. Pretender Lenders who were quick to use any means necessary, including foreclosure fraud tactics to foreclose and steal homes from millions of consumers are now faced with empty lots, sub-divisions and the hefty expense of maintaining properties that for the most part have simply been “let go” and are now uninhabitable and broken down beyond livable conditions. The abandoned expenses have become so great, coupled with the compounding by the sheer numbers of home units that many alleged Lenders are now deciding to demolish and donate back the land, taking advantage of IRS tax codes to help offset expenses.

stop foreclosure fraud

Pretender Lenders apparently thought that even with a depressed economy, low consumer confidence and rising unemployment rates that their surplus of foreclosed homes would be snatched up. They were wrong. Foreclosure fraud clearly has not paid off for them, and many alleged Lenders are resorting to simply writing off whatever expense they can for simply donating bulldozed land back to local communities and organizations.

Consumers currently in the foreclosure process or facing foreclosure have an opportunity to save their home from foreclosure, foreclosure fraud and seeing their home be bulldozed. In the majority of cases throughout the country, the alleged Lender has not demonstrated legal proof that they have the right to foreclose. The use of robo-signers, fraudulent documents, missing and invalid assignments, securitization and other elements can render a mortgage invalid, and means that no one can legally foreclose on a property.

A successful defense to stop foreclosure fraud begins with a strong offense. This includes learning step by step what elements of fraud exist on your property, followed by the gathering of supporting case structure of other homeowners who have fought against foreclosure fraud and proved victorious. Far too often, consumers have simply just allowed the fraud to continue. The fact remains that unless action is taken, and taken by the masses, the fraud will only continue.