caroline05
04-03-2013, 05:16 AM
The state of Washington’s court system isn’t turning a blind eye to foreclosure abuse. Foreclosure abuse is when lenders or foreclosure trustees violate consumer protection law during the foreclosure process, often to expedite the process of foreclosing and selling the home.
When a home is foreclosed on a trustee, acting on behalf of the lender is given the power to sell that home. And with that power comes an opportunity to abuse it, and so there are laws in place to protect borrowers.
Quality Loan Service found guilty
Washington’s Supreme Court recently overturned an appeals court decision and found Quality Loan Service guilty of foreclosure abuse. The foreclosure trustee had falsely notarized legal documents and had ignored requests to delay the auctioning off of a home.
This isn’t the first time Quality Loan Service has been in trouble for foreclosure abuse. In 2008 Washington Mutual and Quality Loan Service were sued for auctioning off a woman’s home for just a dollar more than she owed the bank. The homeowner lost more than 150,000 in equity.
Homeowners beware
Homeowners would do well to know about laws in place to protect them from foreclosure abuses such as these. Make sure the dates on legal documents are correct. If there is anything suspicious in the legal documents or behavior of the lender or foreclosure trustee, a real estate attorney may be able to assist in holding the lender responsible for any abuses committed.
Business, real estate, and bankruptcy law and litigation news brought to you by http://mbblegal.net/
Source: http://seattletimes.com/html/businesstechnology/2020458364_foreclosurerulingxml.html
When a home is foreclosed on a trustee, acting on behalf of the lender is given the power to sell that home. And with that power comes an opportunity to abuse it, and so there are laws in place to protect borrowers.
Quality Loan Service found guilty
Washington’s Supreme Court recently overturned an appeals court decision and found Quality Loan Service guilty of foreclosure abuse. The foreclosure trustee had falsely notarized legal documents and had ignored requests to delay the auctioning off of a home.
This isn’t the first time Quality Loan Service has been in trouble for foreclosure abuse. In 2008 Washington Mutual and Quality Loan Service were sued for auctioning off a woman’s home for just a dollar more than she owed the bank. The homeowner lost more than 150,000 in equity.
Homeowners beware
Homeowners would do well to know about laws in place to protect them from foreclosure abuses such as these. Make sure the dates on legal documents are correct. If there is anything suspicious in the legal documents or behavior of the lender or foreclosure trustee, a real estate attorney may be able to assist in holding the lender responsible for any abuses committed.
Business, real estate, and bankruptcy law and litigation news brought to you by http://mbblegal.net/
Source: http://seattletimes.com/html/businesstechnology/2020458364_foreclosurerulingxml.html