SOMETIMES THE GREEDY GUYS DO GET CAUGHT

"In a ruling that could escalate the mortgage problems facing banks, the Massachusetts Supreme Court on Friday voided two foreclosures because the banks failed to show the proper paperwork to prove they owned the loans.The Massachusetts Supreme Court ruled against banks in foreclosure paperwork case.", written in the Washington Post by Ariana Eunjung Cha.  The issue involves robo-signing.  For the complete article, click here.  Be sure to watch the video on the site.

Consequences are far reaching since the decision is retroactive to other cases that fit the conditions.  Not only will it be that bankers don't own the homes they thought they did, but bank stocks went down significantly.  In a Reuters article, Jonathan Stempel and Dena Aubin, wrote: "In a decision that may slow foreclosures nationwide, Massachusetts' highest court voided the seizure of two homes by Wells Fargo & Co and US Bancorp after the banks failed to show they held the mortgages at the time they foreclosed.  "Analysts said the decision could make it harder to sell homes, and perhaps weigh on the nation's economic recovery."

Bank shares fell, weighing on broader stock indexes, on fears the decision could threaten lenders' ability to work through hundreds of thousands of pending foreclosures.  The carelessness of bankers foreclosing without proper review and documentation that they owned the properties they were seizing.

It is nice to think that someone might be back at work minding the store for the rest of us, isn't it?

 States attorneys-general are now questioning similar cases in all 50 states.  Mortgages were peddled, leaving the paper work behind.