December, 23, 2008

Steve Dibert, CEO of MFI-Miami, a national mortgage auditing and fraud investigation firm, said lenders who are initiating foreclosure actions may not actually have the legal standing to do so. Homeowners with subprime loans are most at risk because subprime lenders did not service the loans they originated. Dibert said that of close to 100 foreclosure clients he has seen, nearly 85 percent of lenders cannot prove they have the legal power to enforce the mortgage terms. 

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