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Interview of Attorney Dustin A. Zacks – Foreclosure Fraud Up at an All Time High

The consters and Wall Street Fat Cats are not slowing down with their fraud and abuse in the face of all this scandal….to the contrary, they’re speeding it up.   We need our local judges to stop all this.   We must demand that they stop it.

We are all in very dire straits, it impacts not just the mortgage and real estate markets, but our entire economy.   How was it allowed to get this bad?   Where were all the smart people?

One Comment

  • Attorney Wendy Alison Nora says:

    As I explain to my clients who experience shame and guilt about being “stupid” to have been defrauded in the foreclosure process, no one is smart enough NOT to be defrauded. Most people did not have legal representation in the process and the lawyers, even those of us who know that the chain of title is defective and even that loan documents are false, we have to consider the clients’ interests in the most speedy and inexpensive resolution. Between 2003 and 2006, I have settled many cases in which I knew that MERS had no standing to sue my clients.
    In one state in which I practice, MERS is still deemed to have standing by no less that an advisory decision by the Minnesota Supreme Court to the United States District Court for the District of Minnesota. Foreclosures proceed by advertisement in Minnesota and the homeowner has to bring an action for injunctive relief to stop a sheriff’s sale on virtually no notice or have one year from the sale to bring an action to raise defenses.
    In Wisconsin, the other jurisdiction in which I am licensed, MERS was eventually exposed as not having standing within the legal community but not by court ruling. There then was a rush to concoct assignments from MERS to the entity seeking to foreclose. MERS, a mere nominee, can only assign what it owns and it never owned the mortgage or the promissory note. When the basics of mortgage law are totally disregarded, fraud is easy.
    Thank you for all that you do.
    Wendy Alison Nora

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