As much as the big banks and financial lenders want to end this home mortgage fiasco and move on with business, it can be said with strong conviction that this country actually needs this mess to be over with even more so.

But the dark reality seems to be that this monumental problem looks as if it will be here for many years to come.

Heavy litigation seems to be on the horizon. In fact, the attorney generals for all 50 states are jointly investigating whether lenders violated state laws according to reports by many St Louis home loan experts.

These financial institutions are now possibly facing perhaps scores and scores of lawsuits by lawyers representing these wrongfully evicted and foreclosure stage homeowners.

Even local federal judges have suggested they will review the banks\’ foreclosure documents very closely with much skepticism. At the same time, lawmakers in Washington D.C. plan to hold more hearings.

In addition to what is happening on the state level, there have been those who have anonymously told CNBC that the Federal Bureau of Investigation is now taking the lead in determining what if any laws these banks have broken.

The overall question is did these banks who were lending and then filing foreclosure documents on these homeowners knowingly commit fraud or were they simply inept when this mortgage fiasco erupted upon the scene.

Several St Louis lending experts definitely have opinions of their own in this matter and have written exposes on these unfortunate subjects.

Now that the judicial system has gotten involve and as the proverbial saying goes having to wade in this financial cess pool, these federal judges have been granted great authority on how to penalize these bankers who knowingly violated their set of procedural rules.

While many have the opinion and are hoping that these judges will hand down quick rulings, they may be in for a rude awakening and thus may be caught by complete surprise.

The courts upon their findings may in fact allow full trials to begin if there were criminal acts uncovered. This, of course, may be fair to the consumer; perhaps bad for the average tax payer.

A majority of legal experts are already saying that most of these sitting judges hearing these cases will not like the fact that banks filed erroneous foreclosure documents no matter if they were deliberate or by accident.

There could be some serious consequences facing these lenders and banking personnel.

But whatever the case turns out to be, these lawsuits, primarily due to the large amounts of cases filed are predicted to go on for several years.

If these lawyers were sharks, they would be ecstatic by the obvious smell of blood in these financial waters.

More and more St Louis mortgage companies and principal loan reduction experts are now recommending that consumers who are facing foreclosure or have \”underwater\” house values take advantage of a FREE forensic loan audit.

These programs have been set up by HAMP and private firms to help put a foreclosure stop in place and reduce the principal amount owed for either your business or home.

This may or may not be the optimal solution. Only time will tell.

Author Bio: Get a St Louis loan today. Visit http://www.StLouisMortgageGroup.com for a Loan Audit. Principal Loan Reduction for homes and businesses. Call 314-334-0210 or (TEXT): stltext loanaudit (to) 368674

Category: Finances
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