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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|* Rich Toscano is a registered representative of and offers securities and investment advisory services through Girard Securities, Inc., a registered Broker/Dealer, Registered Investment Advisor, and member FINRA/SIPC. Pacific Capital Associates is not a subsidiary or affiliate of Girard Securities. The views and opinions expressed on this site are not those of Pacific Capital Associates or Girard Securities, Inc. The information on this site should not be construed as investment advice.|