Real Estate Foreclosure Litigation: The Elephant In The Living Room: Three Simple Rules To Avoid The Crush

more+
less-

For the last year talk of the spike in mortgage foreclosures has infiltrated our lives. Banks are failing. Legislatures are screaming for “foreclosure relief.” Hoping to avoid disaster, real estate companies are inducing potential buyers to take “all expenses paid” tours of distressed properties. Hundreds of billions of dollars are at risk, as are the homes of tens of thousands of American citizens.

But, while lawmakers structure “bailouts” and developers sell excess inventory at deep discounts, the foreclosure numbers continue to escalate, and as more and more families lose their homes, history has taught us that the risk of litigation will expand geometrically and has become an elephant in the living room.

In the mid-1980s foreclosure activity bloomed, and for a while, mortgage foreclosure was a hotbed of litigation; however, since that time, the area has grown cold and many of the lessons learned have been forgotten. However, by looking back and unearthing the litigation patterns of the 1980s, one can develop and implement three simple rules that will help deflect criticism, perhaps insulate real estate professionals from the rising tide of lawsuits and, in the final analysis, keep the elephant from entering the building in the first place.

Please see full article for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ropers, Majeski, Kohn & Bentley | Attorney Advertising

Written by:

more+
less-

Ropers, Majeski, Kohn & Bentley on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×