Jenifer B. McKim, Boston Globe
The Massachusetts Supreme Judicial Court on Friday affirmed a lower court decision in favor of mortgage giant Fannie Mae that removes a legal challenge for borrowers fighting foreclosure.
The state’s top court ruled that a so-called “affidavit of sale” is enough for a lender to prove it has the right to seize a home. The affidavit is used by a lender during the auction process to prove it has complied with foreclosure laws.
Christopher Pitt, president of the Real Estate Bar Association for Massachusetts, said the process has been in place since 1912. A decision against the affidavits could have put the validity of tens of thousands of foreclosures into question, he said.
“This was a positive outcome,’’ said Pitt. “It could have been much worse.”