Today’s Foreclosure NewsLoan servicers and their henchmen (attorneys and real estate brokers) continue to ignore the requirements of the Protecting Tenants at Foreclosure Act. Many take the position that tenants’ leases do not have to be honored, and instead only provide a 90 day notice to vacate. Some decide to advise tenants of their “rights” expressly. On [...]
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Fannie Mae and Freddie Mac are dumping their law firm networks and instead will let mortgage servicers hire their own lawyers to process foreclosures. The Federal Housing Finance Authority, which serves as conservator of the two government-sponsored enterprises, said the move “will lead to greater transparency and benefit delinquent borrowers who become subject to the [...]
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