ATLANTA (AP) Lenders seeking to foreclose on a home must provide better disclosure on who owns the mortgage and list the contact information for people who can negotiate with borrowers under a recent ruling by the Georgia Court of Appeals.
The Atlanta Journal-Constitution reports that July 12 decision applies to foreclosures that happened from 2008 to 2011, though some lawyers say it may have consequences for ongoing foreclosures.
Lawyers representing borrowers had argued that banks were not complying with a state law changed in 2008. In its decision, the appeals court found the law requires that foreclosure notices and legal advertisements include the name of the mortgage owner and the contact information for the owner or someone else authorized to negotiate a modification, short sale or other relief. The court decided that foreclosure notices must also reflect whether it was sent by the
Article source: http://www.dailyreportonline.com/PubArticleDRO.jsp?id=1202566263653
Leave a reply to Ga. court ruling could tighten foreclosure rules