I was featured on REALTOR.com® again - they posted a blog I wrote called "Understanding the foreclosure freeze." Go read the full post, but the gist was this:
In the last month, banks have begun to freeze foreclosure filings as they step back and take a look at the filing process. It is the process that has come under scrutiny as "robo-signers" have been signing and approving thousands of foreclosures a day and mortgage assignments have been lost.
In the blog on Realtor.com, I offer some frequently asked questions in order to offer a quick understanding of what is going on and why. How does this all apply to you? Unfortunately, we don't know what percentage of foreclosed properties were improperly processed but if you believe that your foreclosed property may have been one of those affected, contact a real estate attorney. They will be able to advise you on whether you have a property claim. If you're a buyer who is interested in purchasing a foreclosed property, you can assume that listed foreclosures have their paperwork in order. However, if you have any questions, work with your realtor and real estate attorney to ensure as smooth a transaction as possible.
Read more about "Phoenix real estate on Realtor.com - understanding the foreclosure freeze," at MyPhoenixmls.com
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