Robo--‐signing was a practice employed by banks to automate the processing and approval of foreclosure proceedings against homeowners. “In many cases,” said Nadler, “the banks were discovered to have processed thousands of foreclosures in a single day, all signed by one person.” Now, almost nine months since the settlement date, over 80% of the settlement money has been used by banks to facilitate short sales.
Jason Nadler, a Certified Distressed Property Expert (CDPE), says that this is not as surprising as many people might believe. “Even before the settlement, short sales were becoming the preferred foreclosure alternative for both banks and homeowners,”
To obtain more information please visit http://www.scarabproperty.com