Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Friday, August 10, 2012
Fla. Probe Into F'closure Fraud Winds Down With A Wimper; State AG's Office To Walk Away w/ Tail Between Its Legs While State Bar Continues To Snooze
In West Palm Beach, Florida, The Palm Beach Post reports:
The news conference was called. A five-paragraph statement issued. It was Aug. 10, 2010, and then Florida Attorney General Bill McCollum, a candidate for governor, was making his move against three of the state’s largest and most feared foreclosure law firms — ones he suspected of illegally speeding cases through the courts with forged and fraudulent documents. Thousands of final judgments of foreclosure may have been the result of illegal activities, the news release said.
Two years later, one firm has inked a settlement with the state. The Law Offices of Marshall C. Watson in March 2011 agreed to pay $2 million, but admitted no wrongdoing.
The other law firm investigations, which came to total six by last summer, are “winding down,” Attorney General Pam Bondi’s office said Friday.
A February court decision barring the state from issuing subpoenas to the firms means any enforcement action is “up to the discretion of the Florida Bar,” Bondi press secretary John Lucas said.
The legal limbo has left homeowner advocates incensed and law firms befuddled. With no closure, the firms remain implicated in the public eye and on the state’s website, which lists them as under active civil investigations. With no closure and no one held accountable, there is no justice, anti-foreclosure activists say.
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Some have now turned their ire on the Florida Bar, which says it has power only to investigate individual attorneys, not law firms. Despite hundreds of foreclosure-related complaints against attorneys, not a single Florida lawyer who represents banks in foreclosure cases has been disciplined for foreclosure fraud by the Florida Bar.
And all of the major players, including leaders of the Law Offices of David J. Stern and Boca Raton-based Shapiro & Fishman, remain members in good standing with the Bar.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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