Robo Signing and Foreclosures - Who is wrong?

Asked by Louis Wolfson, Needham, MA Thu Jul 21, 2011

Do you feel it is fair that those who have not paid their mortgages and were rightfully being forclosed on, after being given every opportunity to correct things, are now going to be allowed to keep their homes and most likely have their mortgages modified.

Would it of been ok if they used a stamped signiture? POA?

Have you ever signed anything for your wife, husband, sister, brother?

I believe the foreclosures should be enforced immediately so the housing market can get back on course, for better or worse.

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Louis Wolfson’s answer
Louis Wolfs…, Agent, Needham, MA
Fri Jul 22, 2011
Margaret,

You are right it is illegal to sign for someone else to sign legal documents. But would it of been legal to rubber stamp them?

So those who signed should be punished, And those who didnt pay or reinstate their mortgages should be foreclosed on,

Without recourse there is no civil society. If everything is a bail out why should you meet your obligations and live within your means?
0 votes
Margaret Has…, Agent, Tampa, FL
Fri Jul 22, 2011
Secretaries signing letters for presidents is not the same thing as robo signing. The robo signers signed legal documents submitted to the courts. Regardless of whether the property owners had paid their mortgages or not, it is illegal to sign someone else's name to a legal document.
0 votes
Louis Wolfs…, Agent, Needham, MA
Thu Jul 21, 2011
Did the people pay on the mortgage or not. Where they given the opportunity to re-instate the loan?

If you don't pay, I don't care who signs for the institutions nor should anyone else. Fraud??? yes those that have obligations don't meet them and abuse the system.

How many documents are signed at a closing????? How many times is that mortgage sold???? Do you know or care who holds your mortgage??? All you know is you have obligated yourself to pay it. It is very clear what happens if you don't.
0 votes
Hank Miller, Agent, Alpharetta, GA
Thu Jul 21, 2011
Louis -

I understand the provacative approach, but there's a difference between "robo-signing" and what went on with the lenders. They used the trerm but in fact they were fraudulently signing docs, with false identities and representing people that didn't exist.

http://hounddogrealestate.com/2011/04/19/who-owns-your-mortgag/

get up to speed - 60 Minutes had a very good clip on it
0 votes
Louis Wolfs…, Agent, Needham, MA
Thu Jul 21, 2011
Morgan,

Banks were not wrongly foreclosing on anyone, only those that don't pay their mortgage. Should the person that signed for their bosses be allowed to sign their own name of course, then the same people would still have their homes foreclosed on.


Have you EVER tried to get Bank of America sign anything? The brank managers are not even allowed to sign a document saying your a customer. Has to come from the executive offices.
0 votes
Louis Wolfs…, Agent, Needham, MA
Thu Jul 21, 2011
Robo signing is illegal????? What about all those presidents that have their secretaries sign letters for them? Theres a few presidents that should be in jail as well.

Hank you've never signed your wifes signiture?????? Tell the truth now.
0 votes
Hank Miller, Agent, Alpharetta, GA
Thu Jul 21, 2011
Fair? They're facing foreclosure because they haven't paid a financial obligation. They're in a home, pay for it as you agreed to.

The banks are skeevy SOB scum as well - there are a potion of owners trying to work things out only to be tossed into the meat grinder. They are worthless to deal with, aren't hiring enough competent workers to get through these issues and took a huge bailout only to sit on it and screw the public.

The robosigning was criminal and why no one is in jail is amazing. There are procedures to follow and they should be followed - even when the outcome is clear. Hire more folks, get the pipelines clear of this distressed inventory, sell them to buyers instead of being combative and let's get this mess cleaned up.

Oh yeah - let's get the hell out of those stone age azz backward countries as well and stop killing our troops, leaving blood over there and spending billions for absolutely nothing. History is clear - nothing will changes over there - ever, should have left years ago. I wonder how this economy would be with all of that money that's been wasted? Change huh?

Hank
0 votes
Morgan Hill,…, , Sandy Springs, GA
Thu Jul 21, 2011
Irrelevant. Do you your work right the first time and you will not have any issues. Same goes for the banks.. They should never be wrongly foreclosing on anyone. And if ever they do wrongly foreclose on someone they should be liable for it. Are we as humans not liable for our actions? People that deserve to be foreclosed on should be given the boot. Period. However, to many mistakes have been made and robo signing things you have never read opens the window for that many more mistakes.
0 votes
Kevin A. Jon…, , Atlanta, GA
Thu Jul 21, 2011
IF they do GET to stay and their mortgage modified THEY will eventually later be re-foreclosed on....I agree with you Louis on the enforcement.
0 votes
davidwbrower, , Woodstock, GA
Thu Jul 21, 2011
sounds like a great topic for a blog. http://www.trulia.com/voices/blogs/Just_Us---82734
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