It's true that there's a lot of blame to go around regarding the mortgage crash. Just today the SEC announced that it may be filing fraud charges against 2 ratings agencies, Moody's and Standard & Poors, who blindly labled these junk mortgages AAA so they could be bundled and securitized and sold to Wall St. investors, and then the banks and sleazy mortgage brokers could keep making these bad loans to greedy borrowers with no chance of repaying them back.
You seem to focusing on the banks' lazy or malevolent shortcuts in foreclosing on these ridiculous loans, and yes, that should be addressed. But note that statistics are that most of these junk mortgages went to people refinancing their loans and taking cash out from their equity. Which means they made money, and gambled wrongly that their real estate would never lose value and that they'd never face a bad economy.
Politics and the question aside of who's got the better claim to these upside-down homes, if you need a foreclosure lawyer, use Avvo's "find a lawyer" search function for your area. I see at least 34 foreclosure lawyers in MO.
PLEASE READ THIS BEFORE YOU COMMENT, EMAIL ME OR PHONE ME. I'm only licensed in CA. This answer doesn't make me your lawyer, and neither do follow-up comments and/or emails and/or phone calls, and you shouldn't expect me to respond to your further questions if you haven't hired me. We need an actual agreement confirmed in writing before any attorney-client relationship is formed. This answer doesn't constitute legal advice, and shouldn't be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue.
Even original mortgages that were subprime were the subject of fraud. The problem is figuring out which ones were fraudulent and which were not. You also have to add the problem of bad documentation in transferring mortgages to the point where it is difficult, if not impossible, in some cases to determine who really owns the note.
Each note is unique. You cannot use the widespread issues with mortgages to say that any one is bad. Is there an issue with your mortgage?
Mr. Goldstein is a Virginia-licensed attorney only. The information is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Answering this question does not in any way constitute legal representation. Contacting Mitchell Goldstein or the Goldstein Law Group does not constitute legal representation, nor is any information you provide protected by attorney-client privilege until otherwise advised.