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Wrong signatures missing documents false documents.
Also use of the notary publics one executive from mortgage giants DN AC admitted to blindly signing 101000.
Foreclosure affidavits -- month.
They're now questions about whether workers and rushed through the paperwork for thousands of homeowners without even reading the documents -- that you.
Banks weren't reading the fine print.
I -- the nation's largest bank now halting foreclosures in all fifty states.
Well senator Harry Reid applauds and urges other big banks to follow America's lead Bank of America's lead that is I -- -- -- -- trillions on the line.
The foreclosure process appears to be melting down but his odds of being PR stunt.
Just for the dead -- just in time to the midterm elections coincidence.
Among taxpayers end up footing the bill for this foreclosure freeze.
-- an easy question.
-- -- is former Pennsylvania senator Rick Santorum said thank you so much for being with us.
I jokingly said that's an easy answer to the question of whether or not the taxpayers are gonna pick up the tab but.
Well -- -- -- very payment and money in these banks right now many of the banks that are that are going to be putting holds on these foreclosures are.
Are the ones that TARP funds and the men and you know there's no question that if they if this is a widespread problem.
Then this could be and as serious a serious issue that require that at least some in Washington with think that the federal -- to bail them out.
I I hope and I I I.
Tend to believe it's not -- -- have a problem that.
At some suggest as far as having any real problems in and eventually foreclosed and on its -- Right well that's a thing I mean paperwork we're talking about.
Dot sizing crossing -- and I'm right what's the what's the rationale would what are the -- -- -- to do here is it.
To buy -- time for this election so that people are in their home the day they vote.
Yeah -- -- looked everywhere where we're not really talking about.
A huge number of people who are going to be affected by this at least in the short term that this goes on for a long period of time.
I -- very well made but as you know I mean this foreclosure process is a long process anyway and -- -- I'm I'm not sure that this is has a lot of political viability at this point.
I think the the idea that this is -- Another screw up or not doesn't necessarily help anybody who looks like they're they're running things in this country and to add to the cynicism -- I don't think actually helps Democrats.
What did it because -- say -- the 97% of us that are paying our bills on right time when I go to vote.
You've given these people look past maybe -- winning the whole thing's gonna backfire.
Well I think senate you know it doesn't affect that many people number one and number two.
You have if you you just have the sense that here people that.
Didn't pay their mortgage that obviously got into -- mortgage that that in many cases they shouldn't have gotten into.
And they're going to be able to set their house not pay their mortgage now months maybe a year maybe two.
And here we are you know -- -- slot -- a way you know paying our mortgage squeeze and pinching pennies.
And these folks because some some some Clark didn't read.
You know the fine print they get the -- -- -- -- for an indefinite period of time that.
Again I don't see that as a winning issue for Democrats head into this election.
Yeah well -- -- and what is it about them coming down now on these banks.
Bank of America decides on its -- to foreclose it's a whole proceedings in 23 states not -- send.
-- time nudge nudge its all fifty states what's happening here why are we coming down on the bank.
Well I I think that the problem is really going forward is that you have if there's really question about where that.
Whether these titles are good on whether this the the actual foreclosure was proper then you may have if this is widespread.
A literally thousands if not maybe hundreds of thousands or millions of tainted titles going forward.
Which great to hold another mass for worth it for the folks who -- guarantee these titles going going forward so they have to clean this mess up.
If it takes a moratorium it takes a you know -- -- -- they can get their act act together.
I think that will prevent a longer term problems -- not necessarily criticizing the act.
I but I don't see the --
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