Strict Foreclosure: The Second Bite of The Apple

When a mortgage is foreclosed, not only are the rights of the owners of the property extinguished, but all rights of third parties who have subordinate liens or other interests are extinguished, as well as the property, which will be sold at the foreclosure sale “free and clear” of any such interests.

By |2020-07-27T13:25:50+00:00August 5th, 2014|Debt Collection, Real Estate|Comments Off on Strict Foreclosure: The Second Bite of The Apple

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 |2020-07-27T13:28:13+00:00July 22nd, 2014|Real Estate|Comments Off on Dual Tracking Prohibited When “Complete” Loss Mitigation Application Received

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 |2020-07-27T13:22:42+00:00June 27th, 2014|Foreclosure|Comments Off on Zombie Foreclosures: Are they coming for you?

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 |2020-07-27T13:33:02+00:00June 27th, 2014|Real Estate|Comments Off on Reducing the Foreclosure Timeline
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