More Problems with Bank Foreclosures and Wachovia REO Homes for Sale

by Donald Hanz on Foreclosure Crisis

The validity of procedures used in bank foreclosed properties, including Wachovia REO homes for sale, is again being questioned as two cases of Pennsylvania foreclosures grab the headlines recently. According to housing industry analysts, the cases have potential far reaching implications on foreclosures all over the state.

Analysts have stated that York bank foreclosures and other bank owned properties all over the region will be affected by the lawsuit filed against the law firm Goldbeck McCafferty and McKeever (GMM). The lawsuit alleges that the firm has allowed non-lawyers to file and even prosecute foreclosure cases.

Housing market experts have stated that if the accusations against the law company were proven to be true, there is a huge possibility that cases related to Pennsylvania foreclosures for sale filed by GMM will all be nullified or will be dismissed. The number across the state can reach thousands, analysts have stated.

Under state law, foreclosure cases, including those associated with Wachovia REO homes for sale andother bank foreclosed properties, can be filed or prosecuted by non-lawyers as long as a real attorney has supervised the filings or has at least read the filings prior to their submission to the courts. However, the lawsuit was filed following several GMM partners' alleged claim that no lawyers ever examined the filings or even read them.

The partners reportedly stated that people who search bank foreclosure homes in the state will likely find that not all of them have been filed or prosecuted by true attorneys. The admission was supposedly made by the partners during depositions held in September and again in December 2009.

This practice has allegedly been going on for some years now. The partners' depositions, if proven true, will effectively put all foreclosure cases in the state that used the same procedure under question. In addition, analysts believe that homeowners who have dealt with GMM and paid the firm legal fees will be allowed by the courts to get the fees back.

The lawsuit also stated that the foreclosing bank in the case was Bank of America. Housing experts stated that this recent development will again put the spotlight on bank foreclosures, including Wachovia REO homes for sale, and will again put under scrutiny the procedures used by lenders in foreclosing properties.