San Diego Housing Market News and Analysis
Foreclosure Freeze Could Have Mixed Results
Submitted by Rich Toscano on October 8, 2010 - 6:34pm
As many of you have doubtless read over the past week or so, it seems that some loan servicers have been a bit lax in following those pesky "rules" when processing foreclosures.
In some states, California not among them, the foreclosure process requires that servicers sign an affidavit swearing that they have confirmed certain facts about the loan to be foreclosed upon. In their efforts to blaze through all the piled-up foreclosures, some servicers signed such forms in bulk without having actually confirmed the individual facts. This puts the legitimacy of some foreclosures into question.
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