Worcester fees for foreclosed properties backfire on borrowers

Thomas Caywood TELEGRAM & GAZETTE A city ordinance intended to force far-flung banks to see to the upkeep of foreclosed properties here has had the unintended consequence of adding to the financial burden of some struggling mortgage borrowers, much to the dismay of City Hall. The Vacant and Foreclosing Property Ordinance requires a bank or […]

Federal COA Grants Borrowers Legal Standing To Challenge Mortgage Assignments

But Upholds MERS System Richard Vetstein, Massachusetts Real Estate Law Blog What entity is not a bank but claims to hold title to approximately half of all the mortgaged homes in the country? The answer is MERS. –Circuit Judge Bruce Seyla in Culhane v. Aurora Loan Servicing of Nebraska, For the second time in a week, […]

5 Banks Accused of Fraudulent Foreclosures in MA

Ashley Klann; Anthony Faccenda, Researcher; and GoLocal Editors Adam Joseph Drici, Dan McGowan, and Tracey Minkin, GoLocalWorchester Five of the nation’s largest banks are now violating an agreement with the federal government in Massachusetts, according to an investigation of local foreclosure affidavits conducted by GoLocalWorcester. The investigation involved nearly 200 affidavits from Ally, Bank of […]

Judge Says JPM-Chase,Wells Fargo & Citi Must Face Off Against Coakley

David McLaughlin, Bloomberg JPMorgan Chase & Co. (JPM), Citigroup Inc. (C), and Wells Fargo & Co. (WFC) must face claims over home foreclosure practices in a lawsuit brought by the Massachusetts attorney general, a judge ruled. Allegations that the banks violated state law by conducting invalid foreclosures can proceed, according to a decision by Justice Judith Fabricant […]

Mass SJC Rules In Favor of Fannie In Foreclosure Affidavit Case

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 […]

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