Here are several articles that I’ve located discussing the new foreclosure law…most are written by attorneys and how they may not take cases any more that relate to a homeowner in foreclosure, including filing bankruptcys for them!
WOW! Did any of the lawmakers that voted for this ever even read it? I’ll keep you posted as I get new info!
Those articles are all from the eyes of the attorneys, but did you notice in one of them it says that the ORIGINAL text of the bill excluded attorneys, real estate brokers, and mortgage brokers, but that those exclusions were STRICKEN from the final version?
Here’s a whole ‘nother player that’s scared about the ramifications of this new law…Title Companies! First American has already circulated a memo to their companies that there may be risk involved for the title company handling the closing of any property involved in foreclosure!
Wow! If the attorney’s won’t represent them, and the title companies won’t close them, and the Realtors won’t list them, and the mortgage companies won’t refinance them, and the investors won’t buy them… I guess there’s no such thing as selling your house once the foreclosure is started!
Now, I don’t think it will really come to that extreme…I’m sure the attorneys are already working on pushing through a “fix” to the law, but stay tuned…it may only cover THEIR tails, not ours!
0 comments