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Dual Tracking Prohibited When “Complete” Loss Mitigation Application Received

While Borrowers have always had the ability to request Loss Mitigation as a way of resolving a foreclosure, both the public awareness and the legal requirements for Loss Mitigation have dramatically increased since the foreclosure crisis began in 2008.

By |2014-07-22T19:03:00+00:00July 22nd, 2014|Real Estate|0 Comments

Zombie Foreclosures: Are they coming for you?

Due to the housing crisis of the past 5 years, efforts have been made to give homeowners every conceivable chance to avoid the foreclosures of their properties, so that they are not forced out of their homes. While well-intentioned, some of these provisions have resulted in unintended consequences. One such impact has been the rise of “zombie foreclosures.”

By |2014-06-27T16:55:00+00:00June 27th, 2014|Foreclosure|0 Comments

Reducing the Foreclosure Timeline

Most Default Mortgage Servicers consistently refuse to accept a deed in lieu of foreclosure from a defaulting homeowner unless there are no subordinate liens and unless they have obtained a financial statement from the homeowner to ensure he/she does not have adequate resources to repay the loan from their other assets.

By |2014-06-27T16:32:00+00:00June 27th, 2014|Real Estate|0 Comments