All Forum Posts by: Brian Farr

You are correct, Charles. It was GMAC Mortgage that first discovered irregularities with foreclosure paperwork, and decided to suspend foreclosures temporarily. Wells Fargo has stated that their foreclosure process is fine, and they will not suspend foreclosing.

It may be that the banks are taking the REOs off the MLS temporarily, in order to make sure the foreclosure documents were processed properly. Hopefully, it will not take very long to inspect the documents, but I guess that would depend on how many people they have to do the reviews.

The North Carolina attorney general has asked 14 lenders to suspend foreclosures in the state until they can show their process complies with the law. It's just political posturing right before the big mid term elections.

Thanks a million,Todd! I'll use some of your ideas tomorrow.

I've been lurking in the shadows, watching this thread develop, and I must say, I find it very interesting.