New Foreclosure Laws & Settlements
In reaction to the nationwide foreclosure crisis, and the many abuses that went along with it (like robosigning, dual tracking, foreclosure rescue scams, to name a few) the federal government and many state governments enacted laws aimed at:
- preventing mortgage lender and servicer abuses in foreclosures
- protecting homeowners from foreclosure rescue scammers
- providing homeowners with alternatives to foreclosure (like loan modifications), and
- encouraging homeowners and mortgage servicers to explore foreclosure alternatives through mediation.
In addition to these new laws, two big settlements with some of the biggest banks resulted in some rule changes as well. Below you can find articles on the newest laws and settlements in the foreclosure field.