Posts Tagged Bugatti

More foreclosure fraud news

It seems attorney David J. Stern made over $105,000,000 foreclosing on people’s homes, many times with “manufactured” documents that could not be located that were key in the foreclosure process.  He bought homes, cars (including a million dollar Bugatti) and even a yacht and moved-in next door to Jay Leno.

New York’s chief judge imposed a rule Wednesday requiring lawyers handling foreclosures to verify that all paperwork is accurate as attorney generals in all 50 states are jointly investigating whether or not mortgage companies have violated state laws in the foreclosure process.  The Obama administrations top housing official said that lenders are within their right to continue with foreclosures but that they could face federal fines if found to have broken the law.

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