Alabama apparently has changed real estate law to protect robo-signers and absence of notes..

[dixiegrrrrl]

I have been reading the Alabama law on real estate.

Alabama is a state where the banks do not have to go to court to foreclose, so we homeowners have little protection against illegal foreclosures.
and now, less, according to the law, which NOW says

"any corporation" can present an affidavit of lost paperwork, or a copy of a mortgage, or any mortgage related forms, and that will be accepted as the original, no matter WHO signed it as an officer of any other corporation anywhere in the country.It says the court MUST accept the paperwork unless the corporation admits it is a forgery!

apparently the law was modified March 2010.

Here:

Any deed, mortgage or other conveyance of property which purports on its face to have been executed in the name of any corporation by any person as its president, vice-president, or secretary, or by any one or more of said persons, shall, when attested by one or more witnesses or acknowledged by such person or persons before any officer authorized by the laws of this state to take and certify acknowledgments, be prima facie evidence that such conveyance was executed in the name of said corporation by such person or persons as such officer or officers and that said person or persons were such officer or officers of said corporation and duly authorized by said corporation to execute said conveyance in its name.

(b) All conveyances of real property, or any interest therein, whether absolute or on condition, which have been executed and acknowledged as provided by subsection (a) of this section, or attested and proved as conveyances of real property by individuals are proved, shall, when recorded, be received in evidence in any court of this state without further proof.

(c) If it appears to the court that the original conveyance has been lost or destroyed or that the party offering a transcript has not the custody or control thereof, the court must receive the transcript, duly certified, in place of the original unless said corporation is in bona fide possession of the property and one of its officers makes affidavit that said conveyance is a forgery.


http://law.onecle.com/alabama/property/35-4-67.html

[T Wolf]

1. Could homeowners form a corporation and then claim that they had "lost" a document from the

lender stating that the loan had been repaid in full?

This should work both ways, but we know the real world only works in the pro-corporation direction.

[dixiegrrrrl]

3. I like the way you think.

Theoretically, this new law MAY remove one of my concerns, assuming I am able to pay off mortgage.

It means BOA can send the county a forged note and say the mortgage was paid off, and the county has to accept it.
Other provisions in the new law say if YOU buy my house, YOU are protected by any forged previous mortgage documents.
And the new law says the courts/county HAVE to accept any notary signature from any other state or
corporation, as if it were notarized in ala.

so it sounds as if my RED legislators were busy closing loopholes in the fraud early this spring, before the shit hit the fan publicly in April.

[Crazy Dave]

2. Since Countywide was so nice to Barney Frank and Chris Dodd

You can bet that any laws that were (or continues to be) broken have or will soon be changed.