Possible Suspension of All Foreclosures in New Jersey

Posted on December 29, 2010


“Last week, Chief Justice Stuart Rabner appointed Judge Mary C. Jacobson, of Mercer County, to oversee foreclosure matters in the state. She immediately signed an order requiring the six biggest lenders in the state (including some of the biggest banks in the country) to appear in her courtroom on Jan. 19 to show cause why the processing of residential foreclosures should not be suspended in New Jersey as a result of the robo-signing.”

The Press of Atlantic City reports that the major mortgage companies are being told to appear in court to justify further foreclosures in the state. If this is more than a show, and foreclosures are stopped in New Jersey, than the ramifications will be felt across the nation. no amount of lobbying will help the banks after that. If each foreclosure case is reviewed for validity, it will slow the process down and open the door to massive lawsuits against the banks.

See Axsmith.net for more details.  Christine Axsmith, Esq. is a Washington, DC – based attorney specializing in foreclosure fraud, illegal foreclosure, real estate fraud.  Her credentials can be viewed at her LinkedIn profile.  The Axsmith Law website has a wealth of information for review related to elder law and foreclosure prevention. 
Other sources of valuable information are the AARP website, the Federal Trade Commission website and the HUD website.