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Foreclosures in Florida: What do you think the judges should do?

Judges in Florida are under intense pressure to clear their foreclosure dockets because the state's real estate market is crippled and its lagging economy may not recover until cases work their way through the courts. But the recent reports about flawed and fraudulent filings have given pause to some judges ruling on foreclosures.

By Abha Bhattarai  |  October 14, 2010; 5:25 PM ET  | Category:  National Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati  
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Justice, not expediency, should prevail in court proceedings. The politicians in league with the banks will want to smooth things over "to protect the economic recovery." Thus far, government intervention has helped only the banks to recover, leaving consumers and taxpayers in arrears. If justice is not done by the courts, the legacy of such a sell-out will be more of us joining the Tea Party movement against all branches of government. I fear for the sustainability of American democracy should this be the outcome.

Posted by: JackN | October 15, 2010 12:26 AM

Justice, not expediency, should prevail in court proceedings. The politicians in league with the banks will want to smooth things over "to protect the economic recovery." Thus far, government intervention has helped only the banks to recover, leaving consumers and taxpayers in arrears. If justice is not done by the courts, the legacy of such a sell-out will be more of us joining the Tea Party movement against all branches of government. I fear for the sustainability of American democracy should this be the outcome.

Posted by: JackN | October 15, 2010 12:26 AM

The game is called "Pretend". Pretend the mortgages aren't crap. Pretend the securities aren't crap. And now, pretend the foreclosures aren't crap. Only by playing this extended game of Pretend could the banks could all this crap pass for what used to be known as "finance", but is now just crap. It's time to end the game. And crap by its name, which just happens to be crap. Let's put the purveyors of this crap in jail. Or, if we can't, put their heads on pikes, carry them down lower Broadway, and drop in Dempsey Dumpsters. You, with the rest of the crap.

Posted by: Larryman | October 15, 2010 2:03 AM

Where are the indictments? Do we need to send the leaders of these financial institutions off to Guantanamo together with their political cronies?

Here's a vote in favor!

Posted by: Over-n-Out | October 15, 2010 3:12 AM

The judges should follow the law.

Posted by: dcc1968 | October 15, 2010 4:44 AM

TARP was passed partly, with the idea of helping mortgage holders repair mortgages that were in trouble. The banks received the funds and instead of helping homeowners they bought out smaller banks.
Now we have banks foreclosing on mortgages without due process. Is it more profitable for banks to foreclose than to assist mortgage holders to refinance or to cure mortgages that are behind? For example, are banks purchasing insurance against the foreclosure of properties, in which case they receive their money when a property is foreclosed and also gain control of the property?
There has to be some reason that banks are so eager to foreclose on so many properties.

Posted by: OhMy | October 15, 2010 6:07 AM

Its seems to me that there are serveral criminal activities that took place. Forgery, and Perjury. And those who committed those acts should be sent to jail if found guilty.

Posted by: Frazil | October 15, 2010 7:42 AM

This is like going to Vegas where the odds allready favor the house (the banks)and finding out the tables are rigged.

Posted by: notthatdum | October 15, 2010 8:13 AM

Sorry if you haven't been paying your mortgage and your home is now in foreclosure the foreclsoure needs to be done as quickly as possible. Very little if any forgery, fraud or perjury has taken place.

99%+ of these foreclosures are legit.

The mortgage holder in many cases no matter how much help you give them isn't going to be able to make the payments. Should they have the principal reduced becuase the house isn't worth as much now as it was when they signed on the dotted line. No, never. The home owner signed the papers and now can't make the payments. Too bad. What about the 90% of mortgage holders who are making their payments on time should their mortgages be renegotiated.

Posted by: sheepherder | October 15, 2010 11:11 AM

To my knowlege, all property sales have to be recorded in the State/county office for them to be legal. That's why I paid all those fees to the settlement attorneys, and local and State offices ... to ensure that the transfer of ownership from the former owner to me was legal. Also, that's why the lenders force us little guys to purchase title insurace? To protect against this kind of thing? I think the lenders should be held to the same, if not a higher, standard than the borrowers!!! Let the lenders fail if need be. Either way, they are taking our money with them.

Posted by: Viennacommuter1 | October 15, 2010 12:44 PM

my loan is w/ Freddie Mac/ WellsFargo. In the the summer of 2008 we tried to do something w/ our loan we have never been denied for anything until 2010 ( THE HAMP ).We recieved a letter saying we were denied due to we were not at risk for foreclosure and that we were not deliquent and were current an up to date on our payments, but the very next day we recieved a letter from a lawyers office that we were in foreclosure process.We have since hired an attonery. Also, all the money i have paid during the past 2yrs I was told 2 different things 1)that it was being held in a seperate acct and if we were approved for any modification it would be applied to our loan but if we were denied they would send it back bc it wouldn't be enough to cover pass due balance, 2)that the money we were sending would be put toward our loan. Now, neither has been done so, where my money? Who's pocket did that go in? Also, I was told we had to pay $2038 to enter in a program and then spoke w/ someone else from Wells FArgo and they said i didn't have to pay this money so, where and who and why was this money even mention, who's pocket would that have benefitted,and to which office lawyer, realator, bank, etc. for that money to have helped move my forclosure faster? Someone needs to seriously checkout Wells FArgo they are not as legitate as they came to be . they claim all there paperwork and findings were done legally and that they stand behind their procedures. Well i'm proof positive their not. So, yes I think the banks should have to pay the piper . If it were me doing illegal actions the courts would throw the book at me or put me under the jail. I hope justice will prevail in these matters. And for those of you who think that all foreclosures are due to poor saps that got loans they couldn't afford you need to walk a mile in their shoes before speaking. Every case is not the same. My husband and I didn't get a loan we couldn't afford just fell on rough times for a spell. Our payment is below $1000 we didn't try and keep up w/ the Jone's. And If you not sure what that means let a poor sap tell you what it does mean ... Someone who tries to out do and have better than someone else just to have bragging rights.. And just for you to know I could care less about what someone else has or what they can get. All i care about is being a good Christian and raising my children and paying for what I have and Just being Happy ... I don't want to be rich I beleive in working for what you get or want.I also want to believe that we still live in a nation that is free and believes in justices. So, don't judge that is for GOD to do and you never know what may come your way to bring you on hard times. I Pray that it doesn't happen to anyone because it is no picnic. Just think before you speak as MY DADDY always said..

Posted by: dianne1216 | October 17, 2010 8:58 AM

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