California to join multi-state investigation into foreclosures

4 Dec
By Dale Kasler
dkasler@sacbee.com
Published: Tuesday, Oct. 12, 2010 – 10:56 am
Last Modified: Tuesday, Oct. 12, 2010 – 1:17 pm

California officials are joining a multi-state effort to investigate mortgage “robo-signers” – employees of lending institutions who’ve approved foreclosures without reading the documents.

Jim Finefrock, a spokesman for California Attorney General Jerry Brown, said today his office will participate in the investigation. The effort is to be led by Iowa Attorney General Tom Miller.

Brown has previously called on all lenders to halt foreclosures in California temporarily. He also issued demands to two lenders – Ally and JP Morgan Chase – to stop California foreclosures until they can show they’re following state law.

Finefrock said Brown’s lawyers are in talks with Ally and Chase. California law prohibits lenders from issuing default notices – the first step toward foreclosure – until they’ve made serious efforts to contact homeowners to see if their loans can be modified. The law applies to mortgages issued from 2003 to 2007.

Now that he is Governor he probably will not do anything. He has to “work” with the banks to help get California out of it fiscal mess. When running for office you must criticize the status quo and vow  to change it if elected. Once elected you must preserve the status quo. Its right out of the election play book.
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2 Responses to “California to join multi-state investigation into foreclosures”

  1. Collene Collins December 4, 2010 at 9:49 am #

    MA Attorney General does nothing to help the homeowners who are victims of wrongful foreclosures. I need an ethical person who has a voice that will be heard to expose our case. The Judge ignored the facts of law, depositions and an expert witness testimony. I can’t give up but I am lost and broke after paying $40,000 in attorney fees.

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