Judge Mary Jacobson Agrees To Let The Mortgage Companies Explain Shoddy Practices
New Jersey Superior Court Judge Mary Jacobson is requiring some of the nations largest lenders and servicing companies to clean up their foreclosure acts. Last month, the Judge chastised JP Morgan Chase, Bank of America and GMAC's Ally Financial for shoddy practices and ordered them to prove that they have cleaned up their acts. A copy of the Order is linked here. A hearing scheduled for January 19, 2011 was pushed back until February 14, 2011 so the parties could discuss a possible deal.
While I applaud the Judge for taking the necessary steps and calling out the lenders on their outrageous practices, I must admit that I am concerned about the settlement talks behind closed doors. If there was any hanky-panky in the paperwork, then we have to wonder about all the people who may have lost their homes to bad paperwork that was somehow pushed through the system. I will be following this story to see what kind of deal was worked out if any.
I just don't like what has happened in the Courtrooms of Southwest Florida and across the Country. Some Judges agree with my thoughts, while others continue to let homeowners lose homes without due process. It scares me to think that criminals have more rights than a homeowner. It scares me to think that a taxpayer does not get an attorney to help them save their homes, but the taxpayer has to pay for a lawyer to provide the best defense possible for a murderer and a rapist. What is going on in this Country?
This post was submitted by Carmen Dellutri, Esq., founder of The Dellutri Law Group, P.A. Currently, the firm has offices in Port Charlotte, Fort Myers, Naples and Sarasota. Mr. Dellutri also sits on the Board of American Board of Certification. Mr. Dellutri is also one of the founders of the Bankruptcy Law Network, Debt Law Network, Credit Law Network, and Mortgage Law Network. Mr. Dellutri also writes for the firm's personal injury litigation blog. Mr. Dellutri also writes for the firm's other blogs: www.faircreditreportingactblog.com and www.fairdebtcollectionpracticesactblog.combankruptcy blog.
