Wednesday, October 19, 2011

Just Some Paperwork Problems

And we've been warning about this stuff for years...

The highest court in Massachusetts ruled that a homeowner who bought a foreclosure that hadn't been properly conducted by the foreclosing bank in 2006 didn't have legal ownership of the property.

The decision by the Supreme Judicial Court casts a cloud over the legal ownership of any properties in Massachusetts where banks didn't properly convey title when foreclosing. The problem has gained attention nationwide because of banks' use of "robo-signing" and other dubious practices that may have broken chains of title on foreclosures.