foreclosures: New Foreclosure Rules in 2014
- 01/21/13 12:50 AM
Beginning in January 2014, the CFPB (Consumer Financial Protection Bureau) released guidelines for mortgage servicers to help protect out would be foreclosures. The goal is to protect/prevent "unnecessary foreclosures" and to ensure fair treatment. According to the new guidelines: Mortgage servicers are prohibited from foreclosing on a home owner who is seeking loan modifications. Servicers will be unable to file a foreclosure notice until a home owner is at least 120 days behind on a mortgage payment. A foreclosure sale on the home will be prohibited until alternatives are considered. Servicers will be required to give home owners adequate time … (2 comments)
Beginning in January 2014, the CFPB (Consumer Financial Protection Bureau) released guidelines for mortgage servicers to help protect out would be foreclosures. The goal is to protect/prevent "unnecessary foreclosures" and to ensure fair treatment.
;)
;)
