Foreclosed Families Get A Chance For Redemption

Real Estate Agent with RE/MAX First Choice
A very interesting article was recently published on CNN Money breaking news that families that lost their home to foreclosure between January 1, 2009 and December 31, 2010 will be able to request a review of the foreclosure process to see if there was anything illegal done in their foreclosure process. For those of you that know me you know that I am a big believer in the fact that there was massive fraud committed by the lenders in the last couple of years of this foreclosure crisis.
Previous homeowners have until April 30, 2010 to request that review which they can find information for on the link above. This is the icing on the cake for many of the big servicers that had no regard for the law or the rights of the homeowners they were foreclosing on.
There is little doubt that 2012 is going to be the year of the short sale. However don’t think for 1 second it is because lenders are "doing the right thing". It is much more because the lenders are in full fledge damage control and doing what they can to prevent future legal action.
Regardless of why short sales are getting easier to get approved, it is a dignified solution to the inevitable when home owners find themselves in a distressed situation. If you or anyone you know is experiencing difficulties with thier mortgage please forward this link so they can visit one of my sites for helpful information.

Comments (1)

Knipe Realty
Knipe Realty NW - Portland, OR

Welcome and glad you found Activerain and hope to get to know you better. If you ever need any help, don't hesitate to shoot us an email, we would love to help you.


NW Broker Secrets

Nov 23, 2011 09:27 AM