HousingWire.com, July 9th, 2012
HousingWire’s Morning Radar provides a look at articles trending on the Internet.
Servicers could face suits under CA foreclosure reform
The foreclosure process in California is about to get a major redux from the recently passed Homeowner Bill of Rights. Gov. Jerry Brown is expected to sign the legislation.
The law would prohibit robo-signing and dual-track foreclosures, but the Auburn Journal in California detailed how homeowners could sue lenders should they violate the new restrictions.
“The problem is getting certain judges to actually enforce the law,” Kurt Sandhoff, president of AIM Property Solutions and broker for RE/MAX, pointed out in the story.
Massachusetts bill could slow the foreclosure process
Yet another bill in Massachusetts could slow down the foreclosure process in the state even further.
Daniel Forte, president and CEO of the Massachusetts Bankers Association, wrote in The Boston Herald that such a policy would hurt local community banks that had no hand in the national robo-signing and foreclosure abuse scandal.
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