Maine Joins Nation-wide Investigation Into Foreclosures

Updated 4 years ago

Maine’s Attorney General, Janet Mills announced that Maine is part of a 50-state investigation of so-called “robo-signing” of home foreclosure documents.The allegations are that mortgage companies mishandled documents and broke laws in thousands of foreclosures.Mills said several court decisions in Maine in the last two months found serious flaws with documents. In one case, a Maine District Court judge found “bad faith” on the part of G-M-A-C employee Jeffrey Stephan, who SAYS he signed 10,000 documents a month without personally verifying the mortgage information.New figures show lenders seized more U.S. homes this summer than in any three-month stretch since the housing market began to bust in 2006.Almost 300,000 properties were lost to foreclosure from July to September. The previous high, was in the previous quarter.Banks have seized more than 816,000 homes since January.


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