Lakeland FL Foreclosures vs. Lakeland FL Short Sales – Lenders and Title Insurance
For the past week we heard that banks such as JP Morgan Chase, Bank of America - now all 50 states, and GMAC suspended foreclosures in over 20 states including Florida. Florida Judges halting foreclosures, primarily due to fraudulent and improper paperwork and rubber-stamping or “robo-signing” without reviewing the documents. Title Insurance Company stopped issuing owner’s title policy on foreclosed properties making it impossible to buy a foreclosure.
Most owners who have stowed away their Owner’s Title Insurance Policy may want to find it and dust it off, especially with all this foreclosure mess where there is no real assurance of rightful ownership.
When it comes to the Lakeland Foreclosure market I noticed a decline in foreclosed homes being actively marketed. For the past seven days only, there were 47 foreclosed homes yanked (temporarily off market) primarily for reasons of paperwork issues as I indicated before.
Thursday, October 14, 2010
Lakeland FL Foreclosures vs. Lakeland FL Short Sales – Lenders and Title Insurance
via activerain.com
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