The average homeowner probably doesn’t pay much attention to the “robo-signing” scandal, unless they find themselves in foreclosure.
Reuters had a very informative interview with bankruptcy attorney Linda Tirelli, who discusses what happens in foreclosure and what you should do if you suspect that your mortgage documents might have been falsified.
It has been the hope of some that if they discover that they’ve been “robo-signed”, a judge will cancel their note and give them the house. This is unlikely. However, when documents have been shown to be falsified, it has resulted in sanctions against lenders and loan modifications. If you find yourself in foreclosure, it is worthwhile to know what’s in your paperwork.
The embed is disabled on the video, but it can be found here.