US Supreme Court Weighs-in on Foreclosures in Non-Judicial States

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A recent decision by the U.S. Supreme Court will make it harder for borrowers to fight foreclosures in non-judicial states.  According to a report from HousingWire, the court ruling awarded more protection to law firms, mortgage lenders and servicers in serving non-judicial foreclosures.  They say it is a victory for the mortgage industry and it may eliminate thousands of homeowner lawsuits.  States have different foreclosure requirements but generally fall into two categories;  judicial or non-judicial, which by name determines who gets to decide the foreclosure.  The case stemmed from homeowner in Colorado (a non-judicial state) who attempted to fight foreclosure by invoking provisions of the federal Fair Debt Collection Practices Act.

Click here to read the full story on HousingWire.com.

Click here to read the Supreme Court Opinion.

 

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Director of Education & Outreach, National Real Estate Investors Association

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