60 Minutes Highlights Foreclosure Fraud

60 Minutes Highlights Fraudulent Documents Created by Lenders

The April 3, 2011 installment of “60 Minutes” featured a lengthy and sensational segment on foreclosure fraud.  We all know the back story.  Millions of mortgages were packaged and monetized by Wall Street and became distressed securities.  In the process, many banks did not take stock of the growing paper trail, so when they started to enforce their rights they turned to some highly unscrupulous methods for “recreating” documents – forging instruments – for purposes of throwing people out of their homes.

If you are involved or contemplating foreclosure, take a very careful look at the documents your lender has sent you, or plans to provide to the court.

There is a chance that these documents could have been recreated in a paper mill and contain possible forgeries.  While a bank might eventually be able to take possession if you are behind in your payments, a careful examination of the documents might give you grounds for a suit and buy you some time.

So, if you believe you might be in a position to get back on track financially in the near future, this is something that is worth looking into.



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