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Sarah Palin Buys Foreclosed Home in Arizona

Sarah Palin can be added to the long list of mortgage fraud victims! Palin bought a home in Scottsdale, Arizona, for 1.7 million dollars. She recently found out that her title to the home may be invalid.

Robo-signers

The robo-signer scandal involved banking institutions and mortgage companies that took title to homes without having the proper documentation. The five bedroom home bought by a company Sarah Palin had an interest in was acquired by the mortgage company through fraudulent or tainted documents. A close examination of the title documents to the property have revealed there were two fraudulent signatures involved in re-financing and foreclosure transactions with regard to this parcel of property. These two questionable issues concerning the property have raised the prospect that the mortgage company that sold the property to Sarah Palin didn’t have good title to the property. It is expected that there will be significant litigation, that will take years to straighten out, as to whether Sarah really is the owner of this property.

Conclusion

When you buy a foreclosed property, make sure you obtain title insurance. If you cannot get title insurance on the property, you are taking the risk that the property you thought you owned is owned by someone else!

Foreclosure Defense In New York

If your house is in foreclosure, we can help you. We’ve been fighting foreclosuresfor more than two decades. We litigate defective mortgages, defective foreclosure lawsuits, predatory lending, violations of federal laws and other real estate issues. We can help you obtain mortgage modifications and we can counsel you concerning mortgage modification programs that fail to meet your needs.

We also assist our clients with foreclosure related bankruptcies. These bankruptcies can either be a Chapter 7 or Chapter 13 bankruptcy. We will explain to you why filing bankruptcy may be the best route to deal with your foreclosure issues and the types of bankruptcies that are available to you. Filing the bankruptcy stops foreclosure proceedings from moving forward. It also stops other debt collection activities involving credit cards and other debts.

Feel free to schedule a free consultation. We will explain your foreclosure optionsto you. Thank you for visiting our foreclosure blog.

Banks Close in Florida and Arizona

Posted by Elliot S. Schlissel, Esq.

Regulatory agencies in Florida and Arizona have recently closed two banks.  These two banks are the first banks that have been closed in the year 2011.  The Federal Deposit Insurance Company was forced to take over the First Commercial Bank of Florida.  This bank was located in Orlando.  The Federal Deposit Insurance Company (FDIC) also took over the Legacy Bank located in Scottsdale Arizona.  These two banks had approximately 275 million dollars in deposits belonging to consumers in their institutions.  It is estimated that these banks will cost the FDIC approximately 110 million dollars.  It should be noted that the FDIC insures each consumer’s account up to $250,000.00. Therefore, the depositors at the aforementioned banks will not lose any money, provided they didn’t have more than $50,000.00 at these banks.

Florida Has the Biggest Banking Crisis in the United States

In 2010, twenty-nine banks in Florida failed.  Florida has had more bank failures than any other state.  California and Illinois came in second and third in the list of states with bank failures.  During the course of 2010, 157 banks failed nationwide.  This is the highest amount of banks that has failed in the United States in recent history.  In 2009, 140 banks failed in the United States.  This had been the previous record year for bank failures.

In 2009, the FDIC paid our 36 billion dollars due to bank failures.  In 2010, the FDIC paid out 21 Billion dollars due to bank failures.  The numerous bank failures have been draining the FDIC of the funds it maintains to secure accounts deposited in the banks of the United States.  It is estimated that there are almost 900 financial institutions with financial difficulties in the United States.  Thank God for the FDIC! Without this Federally backed institution, hundreds of thousands of consumers would lose their life savings.

New York Foreclosure Defense Lawyers

The Law Offices of Schlissel DeCorpo represents homeowners in New York with foreclosure problems and issues involving mortgage modifications.  Our office is adept at keeping our clients in their homes and preventing the banks from putting them on the street.  We attend foreclosure conferences for our clients.  We deal with defective foreclosure lawsuits, predatory lending issues, mortgage modification programs that don’t work as well as bad faith issues.  If you have a problem involving a foreclosure or mortgage modification, we are the solution! Feel free to cal us at 1-800-344-6431, 516-561-6645 or 718-350-2802.

Foreclosure Defense in Valley Stream, Lynbrook, Baldwin, Malverne, Freeport, Oceanside, Long Beach, Elmont, Lakeview, West Hempstead, Hempstead, Merrick and Bellmore, New York

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We represent individuals throughout the New York Metropolitan area with divorce and child custody, personal injury, car accident, wrongful death, estate administration, nursing home and medicaid issues

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