First, We Kill All the (Foreclosure) Attorneys

Yes, thousands of consumers have been wronged by residential servicers that cut corners on their foreclosure paperwork and decided to 'robo' away their workload. But does a consumer who was in arrears deserve to get his house back? It's a question the general media has yet to ask and at the same time it's a difficult question. Losing one's home is one of the worst 'material' events that anyone may go through. Still, if you don't pay the loan, they can take your house. The problem with the housing debacle is that no one in the mortgage industry has come up with a "human" solution that treats defaulted mortgagors with respect – and with some type of alternative. Then again, as the saying goes: "This is business, it's not personal." Meanwhile, class action attorneys see blood in the water and are trolling for wronged mortgagors – or borrowers that presumably were wronged. A recent ad in Parade magazine taken out by IndependentForeclosureReview.com asks this very basic question: "In foreclosure in 2009 or 2010? You may be eligible for compensation or other remedy." Yes, they're looking for customers. (If you have a phone, you have an attorney.) In the ad IFR lists 27 servicers that they believe might be paying up as part of the robo-signing deal or a related event. The list includes all the usual megabank and subprime suspects, but a few (mostly) 'A' paper shops that might surprise you: EverBank, MetLife, and U.S. Bank.