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View Diary: Wells Fargo CEO Meets a Desperate Homeowner Facing Foreclosure, Flees (84 comments)

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  •  My Usual Caution Here (3+ / 0-)
    Recommended by:
    ChemBob, PsychoSavannah, decembersue

    DO NOT assume anything about the legality of any particular foreclosure until you have consulted with a qualified real estate attorney in YOUR STATE.  It is simply NOT TRUE that "all foreclosures are being done with fraudulent documents", that "65 million titles are clouded because of MERS" or that "they are all illegal."

    Believe me,  I wish they were.  So do a lot of folks who jumped on the "MERS show me the note" bandwagon and now have found themselves homeless on the courthouse steps."  But they aren't.

    "Do you research" is the most important when trying to determine the status of a particular foreclosure. But that research is not plain old 'net research - this is one where you need expertise possesed only by qualified real estate lawyers (not every lawyer is qualified in this area; many are not) or community organizations such as ACCE or NACA who have seen tens of thousands of each lenders' loans in their state and can thus most accurately assess whether a foreclosure is or is not in fact "illegal."

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