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Three committee members said that Fannie Mae's network includes firms that specialize in speeding up the foreclosure process "often without regard to process, substance or legal propriety," and counter to government policy of seeking alternatives to foreclosure.
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So, o6, you'd rather have the banks and Fannie Mae (and Freddie Mac too) just run roughshod over everything, in the name of "getting" those deadbeats out of their homes?
Really, you need to read up about these foreclosure mills-they're nothing more than paper-pushers who don't give a damn about legal niceties, are willing to forge paperwork, and even sue on behalf of banks that don't even hold the mortgage note. All these "legal eagles" (vultures in my mind) are interested in is collecting the fee, no matter how it's done.
Yeah, the system is messed up, I won't argue that. But if the result of trying to jam through as many cases as possible, whether by hook or crook, winds up being millions of properties that have a "clouded title" (no proper documentation, or "chain of custody" of the deed), then i would much rather try to get things right, now, this time, instead of trying to straighten out a much larger mess a couple years down the road. Haste makes waste, and when it comes to your home, you don't want to rush through paperwork...
Franc (penguinzee)
Congress attacks Fanne Mae for hiring lawyers that actually foreclose on mortgage holders who do not pay
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