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Recommend " Sarah Jaffe" - 92% of Foreclosures in New York Lack Proper Documents -- Banks Booting People Without Proof? (Email)

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By Sarah Jaffe, AlterNet
Posted on August 15, 2011, Printed on August 16, 2011
http://www.alternet.org/story/152030/92_of_foreclosures_in_new_york_lack_proper_documents_--_banks_booting_people_without_proof

Ninety-two percent.

That's how many of the foreclosures on bankrupt families in and around New York City had no proof the creditors had the right to foreclose.

In a three-month investigation, the New York Post—a tabloid owned by Rupert Murdoch and usually better known for its salacious headlines than its investigative journalism—found that in nearly all of the foreclosure proceedings, “banks have attempted to steamroll their way over sometimes-outgunned homeowners,” booting them out of their homes even if they didn't have proper documentation that gave them the right to do so.

The Post went through more than 150 Chapter 13 bankruptcy filings from June of last year, pulled a random sample, and:


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