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Why The Foreclosure Mess Could Last For Years

According to this Bloomberg Businessweek article there will be an explosion of homeowner lawsuits against banks as well as continued investigations by the Attorneys General of several states in connection with claims that banks have falsified documents during the foreclosure process. Additionally, many titles to homes have been clouded due to procedural mistakes in the handling of many mortgages. The title insurance industry will undoubtedly be affected as well as the tremendous increase in claims will surely follow. According to Peter Henning a law professor at Wayne State University Law School in Detroit “This is going to be a hydra. You have so many potential avenues of liablility. You don’t even know the parameters of this yet”. Read more

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