The foreclosure crisis has caused more people to lose their homes than all of North Carolina's natural disasters combined. There are nearly 70,000 foreclosures filings each year in our state. In the case of Linda Dobson, WellsFargo foreclosed without proving it owned the loan on her house. Her case is being heard by the NC State Supreme Court on October 17, 2011. Linda Dobson is not alone. Tens of thousands of borrowers loan documents were lost and then fraudulently recreated by large lenders in order to foreclose.
Banks are filing foreclosures without the legally required proof of title. You may have heard of this - it has been called the "Bank RoboSigning Scandal." Their negligence hurts homeowners. It also means that we have lost the trail of clear title on many properties. Without those records, future sales of those homes may be invalid.
Watch the 60 Minutes video to understand the extent of the intentional fraud committed by banks.
NC Attorney General Roy Cooper is negotiating a settlement with large lenders who falsified loan documents. Leading non-profit advocates sent this letter asking for a strong settlement to hold banks accountable and repair the harm to homeowners and neighborhoods.
Will you please join us by signing this petition to Roy Cooper?
- NC AG Office
- NC Attorney General Roy Cooper
I just signed the following petition:
As North Carolina's Top Cop we need you to ensure that homeowners are not foreclosed on wrongfully. I believe that there are three just and appropriate remedies.
First, borrowers who have had their paperwork lost by lenders should be assured a legal process to protect their clear title to their homes and be compensated for damages. Second, lenders who committed fraud, known as robo-signing, provide funds to to nonprofit agencies that will work to save homes from foreclosure. Finally, make the banks put money back into the neighborhoods that have been hardest hit by the foreclosure crisis. Require them to provide loans and community development grants to help people buy homes and help non-profits make more affordable rental housing.
Thank you for representing the best interests of North Carolina homeowners and neighborhoods.
Michael De Los Santos started this petition with a single signature, and now has 563 supporters. Start a petition today to change something you care about.