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Florida’s Ongoing Foreclosures Nightmare

Posted By Barry Ritholtz On September 29, 2010 @ 2:49 pm In Credit,Foreclosures,Legal,Real Estate | Comments Disabled

Attached is a court order quashing a foreclosure service process service (PDF here [1]; embed here [2]) because of a counterfeit court summons.

Apparently what’s happening is that private process servicer companies may not be serving people with summons, and are simply counterfeiting the documents so they can keep the fees without doing the work. That means that you could theoretically be foreclosed on without ever knowing there was even a foreclosure case against you.

This judge got wise to it.

Below are two more stories about the problem. The first is from the Florida Bar News, and the second is from prominent financial blogger Mike Konczal on the rampant violations of property rights.

Florida Bar News: Faulty filings hamper clearing foreclosures [3]

Key quote: “If we had everyone defending their foreclosure, we’d never get through this.”

Florida’s Foreclosures Nightmare [4]

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Simply astonishing . . .

Previously:
Man without Mortgage Loses Home in Foreclosure [5] (September 23rd, 2010)

Stopping Counter-Productive Mortgage Mods and Foreclosure Abatements [6] (January 5th, 2010)

Mortgage Electronic Registration Systems Loses Legal Shield [7] (September 23rd, 2009)


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2010/09/florida%e2%80%99s-foreclosures-nightmare/

URLs in this post:

[1] PDF here: http://www.ritholtz.com/blog/wp-content/uploads/2010/09/100622_Jeffs_Order-on-Motion-to-Quash-Service-of-Process.pdf

[2] embed here: http://www.ritholtz.com/blog/2010/09/judge-quashes-counterfeit-foreclosure-service/

[3] Florida Bar News: Faulty filings hamper clearing foreclosures: http://www.ritholtz.com/blog http://www.floridabar.org/divcom/jn/jnnews01.nsf/8c9f13012b96736985256aa900624829/ea7677d1e30f1032852577a400663455!OpenDocument

[4] Florida’s Foreclosures Nightmare: http://rortybomb.wordpress.com/2010/09/29/floridas-foreclosures-nightmare/

[5] Man without Mortgage Loses Home in Foreclosure: http://www.ritholtz.com/blog/2010/09/man-without-mortgage-loses-home-in-foreclosure/

[6] Stopping Counter-Productive Mortgage Mods and Foreclosure Abatements: http://www.ritholtz.com/blog/2010/01/stop-counter-productive-mods-abatements/

[7] Mortgage Electronic Registration Systems Loses Legal Shield: http://www.ritholtz.com/blog/2009/09/mortgage-electronic-registration-systems-loses-legal-shield/

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