Home Seizures Fall 9% in Nationwide Fraudclosure Probe

That pesky Due Process and rule of law thingie is soooo annoying:

“Home seizures in the U.S. fell 9 percent in October from the previous month, the biggest decline in a year, as attorneys general began a nationwide probe into lender foreclosure practices, according to RealtyTrac Inc.

The number of properties taken back by banks fell to 93,236 last month from a record 102,134 in September, the Irvine, California-based data seller said today in a report. Foreclosure filings, which also include default and auction notices, fell 4 percent from the previous month to 332,172 and were little changed from a year earlier. One in 389 households got a filing.

Top legal officers in all 50 states began a coordinated inquiry on Oct. 13 into whether banks and loan servicers used false documents and signatures on hundreds of thousands of foreclosures in a process known as “robo-signing.” The probe is on a “fast track” and may lead to multiple settlements, Iowa Attorney General Tom Miller, the leader of the investigation, said in an interview this week.”

I bet Musssolini, didsn’t have these complications . . .

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Source:
Home Seizures Drop 9% as States Probe Foreclosures
Dan Levy
Bloomberg, Nov. 11 2010
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=a9ZsVKRSzTeM

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