The real issue as I’ve pointed out is: Does the foreclosing party hold the deed? That’s what all the “robosigning” and “document irregularities” are all about — saying that they held the title. The MSNBC Dylan Ratigan show at 1:00 PM MST described the problem quite well. You can track it down by going to the internet and viewing the segment online. (View http://www.msnbc.msn.com/id/31510813/).
Ratigan asked if the foreclosure fraud was intended to cover-up the larger mortgage “give away” fraud. Ohio AG said foreclosures “involved filing fraudulent evidence” in the foreclosure process – “fraudulent affidavits.” Ratigan said it quite clearly: “the banks to bypass the normal court procedures to force the mortgage holder to prove they own the property in order to foreclose.”
HOAs DO NOT HAVE TITLE TO FORECLOSE!
While the CC&Rs and state laws allow them to foreclose, most must follow the laws regarding mortgage foreclosures. Homeowners facing foreclosure should get an attorney to stop any pending HOA foreclosure, ASAP!
And, have you asked yourself, why didn’t the HOA attorneys know about holding title? Why didn’t the national HOA education and lobbying group’s College of Community Association Lawyers (CAI’s CCAL) know about holding title? Why not?