The latest wrinkle concerning foreclosures involves "robo-signers,” a term that refers to the temporary workers hired by law firms to notarize and sign legal documents. As the validity of thousands of foreclosed mortgages is called into question due to irresponsible document processing, there are some important ramifications to consider. While such mortgage servicers as large banks may have foreclosed on delinquent mortgages, owners of mortgage-backed securities currently hold about $2.6 trillion in debt. If investors can show that a loan within the securities is defective, they can compel the loan originators (banks) to buy back the mortgages in question. However this legal tangle is resolved, continued litigation between banks and mortgage investors adds more unforeclosed properties to the unsold inventory.
We are pleased to bring you interesting and informative real estate topics. If you are hoping to buy a home that is in foreclosure, contact CENTURY 21 SEXTON & DONOHUE at (781) 665-6660. As members of the Multiple Listing Service®, we are available to show you any property that is available for sale in your desired community. Current low interest rates and prices make it a desirable time to purchase real estate. To schedule an initial meeting, call us today. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. We’re here for you!
HINT: Current market conditions call for sellers to place their trust in real estate professionals, who have a firm grasp of local conditions while maintaining a larger perspective. 
CENTURY 21 Sexton & Donohue
