Judge Shumate in St. George effectively halted all Bank of America Foreclosures in the State by requiring them to adhere to Utah Law requiring all lending institutions to be registered in the State of Utah and have offices located with in the State of Utah. Neither of which Bank of America has done since acquiring Countrywide Home Loans. I am sure that we will here much more on this!
Here is the link to the article in the Spectrum/Daily News:
Thanks for passing along this breaking information Tony! Good job Judge Shumate for requiring the banks to keep it local! It would be great if something could be done to shorten the Short Sale process with B of A as well!
Tony & Darcy, I read about this yesterday. Good for the Judge to uphold the law in Utah and show the big bank it couldn't just do as it pleased. Foreclosures were halted in FL last year by the Governor for several months but not for this reason. I think it was to give the state time to catch up in the process and keep people in their homes a little longer.
Sharon, I agree that the judge did the right thing. I also think that States like Florida and California have also done the right thing in trying to give people and the banks time to work out arrangements to stay in their homes.
Very interesting. I wonder if Judge Shumate would be considered an "activist" judge. LOL
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