Bank Of America has been ordered to stop all foreclosures in Nevada a non-judicial state.
The judge ruled they can only foreclose with a judges order, which is only for judicial state foreclosures. The non-judicial states do not need court orders for foreclosing, the companies can simply foreclose after advertising the foreclosure for 4 weeks.
The non-judicial foreclosure states will have law firms and companies which represent the banks and become the trustees for foreclosing. In Nevada that firm seems to be ReconTrust, which handles the foreclosures for banks.
By a lawsuit going against ReconTrust who is handling foreclosures in Nevada for banks, hopefully all foreclosures will have to be stopped, not just Bank of America's foreclosures.
It is amazing how people think the foreclosure crisis is behind us and it is all straightened out, because MSM does not mention it anymore. Yet there is more going on then ever before and more and more rulings FOR THE PEOPLE by judges. Some judges still rule for the banks, but I would think in appeals, the correct ruling by law will have to be applied and thus it should be for the homeowner. I linked a New Jersey ruling below, which was for the bank, yet it went against all laws and rights.
Portion:
John Christian Barlow, a lawyer who represents North, said the lawsuit claims ReconTrust doesn’t have the authority to foreclose on homes in Nevada. Bank of America and other banks use ReconTrust to seize homes in Nevada, he said. Barlow said he will seek class-action, or group, status for the lawsuit.
In Tennessee and Arkansas I know it is a law firm named Wilson and Associates who become the trustee and substitute trustee to foreclose on people for the banks.
Every state is different and what is a shame is a judge in New Jersey is allowing foreclosures when the note is not available, which says who is owed the debt. I certainly hope the people appeal this ruling by that judge. As that goes against all laws and rules of foreclosures.
No comments:
Post a Comment