HB 237 | Georgia Senate Unanimously Approves Bill Criminalizing Foreclosure Fraud

PRESS ADVISORY

Wednesday, March 21, 2012

Georgia Senate Unanimously Approves Bill Criminalizing Foreclosure Fraud

Today, the Senate unanimously approved HB 237, legislation that will make foreclosure fraud a crime in Georgia. Currently, Georgia law criminalizes fraud during the mortgage process, but specifically does not penalize similar fraud on the back end of the loan – at the foreclosure process.

Attorney General Sam Olens thanked the Senate for their overwhelming bipartisan support of this crucial measure. “Georgia’s current mortgage fraud statute is insufficient and must be revised to criminalize fraud throughout the entire lending process, including foreclosure,” said Olens. “Just last month, 49 state attorneys general reached a $25 billion agreement with the Nation’s five largest mortgage servicers to settle rampant fraud which occurred nationwide during the foreclosure process.”

“I applaud the members of the Senate for recognizing that Georgia urgently needs a law protecting borrowers during every stage of the lending process. I am grateful for the leadership of Senators Bill Hamrick and Jesse Stone for shepherding the bill through the Senate. I look forward to continuing to work with the bill’s sponsor, Representative Rich Golick, on gaining final approval for HB 237 in the House of Representatives, where it already passed last year 168-1.”

SOURCE: http://law.ga.gov

Copy of bill below…

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4closureFraud.org

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HB 237

Comments
4 Responses to “HB 237 | Georgia Senate Unanimously Approves Bill Criminalizing Foreclosure Fraud”
  1. Bobbi Swann says:

    Despite them “good ole boys from Georgia” they do have their sh** together! Can we send this to Pam Blondie over here in Flori-duh????

  2. Lynne says:

    Way to go Georgia! So Glad SOMEONE has an honest AG…

  3. Litgant says:

    Well, may help the future victims but not the ones who have suffered sinc 2006 till now. The AGs who accepted their settlements cannot use this legislation to go after them for those mortgages covered under the settlement agreements.

    What we need is legislation that covers existing court cases that have not yet been settled. Maybe there is wording and provision for this. If so, Georgia should be a model for Florida. But we have so many lawyer shysters up there in the baloney factory, I doubt we will get anything except a rerun of that legislation that failed to make it off the calendar onto the floor.

    God help us. The battle is not over for so many hurting people.

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