Robo-signing is a new word coming from the Foreclosure Scandal that has found its way into our everyday lives. So, what does robo-signing mean exactly?

Upon initial review of the information robo-signing looked to be a result of the huge number of foreclosure documents that needed to be approved and signed off on.  What I believe is that many people thought these were qualified individuals who were overwhelmed with the amount of paperwork they needed to complete to have a foreclosure proceeding move forward. 

Now, in some recent developments, it seems as though another component of robo-signing took place.  As the servicers of the lenders tried to keep up with the paperwork they started to hire employees who did not have the correct mortgage background.  How can someone who does not have an understanding of basic mortgage terms and practices be expected to appropriately review foreclosure documents? 

If you are affected by a foreclosure or know of anyone who is experiencing these issues the first place to start is with the servicer themselves.  However many States have joined in on this to help consumers.  Most recently the North Carolina Housing Finance agency gave this website and phone number to help those in North Carolina with foreclosure .

Struggling home owners should visit the NC Foreclosure Prevention Fund website below or call the toll-free number (888)623.8631 to learn more about this program.