http://www.nytimes.com/2010/09/30/business/30mortgage.html?ref=business
So if they have been doing it wrong now, what have they been doing for the past 3 years?
It's called foreclosing on homes you don't hold a title for....in other words.....FRAUD.
There are millions of homes that have been processed for foreclosure in the past in this very same manner.
Ladies and Gentleman this is a very wide spread Corporate crime that entails millions of victims.
The punitive damages alone should bust this bank and many more like them.
It takes alot of audacity to take taxpayer funding to keep your doors open from the bad bets of gambling habits and the commit fraud against them to reap even more.
JPMorgan Suspending ForeclosuresBy DAVID STREITFELD
In a sign that the entire foreclosure process is coming under pressure, a second major mortgage lender said that it was suspending court cases against defaulting homeowners so it could review its legal procedures.
The lender, JPMorgan Chase, said on Wednesday that it was halting 56,000 foreclosures because some of its employees might have improperly prepared the necessary documents. All of the suspensions are in the 23 states where foreclosures must be approved by a court, including New York, New Jersey, Connecticut, Florida and Illinois.
