Learn the must-know tips for avoiding or overcoming lack of standing defense.
Despite recent improvements in the nationwide economy, commercial and residential foreclosure rates remain high. Borrowers anxious to save their property will scrutinize every detail of the lender’s case to find ways to stave off foreclosure. One defense that has had significant traction over the past few years is the assertion that the foreclosing lender lacks standing to foreclose. The vast majority of mortgage notes are transferred after origination, and an understanding of the proper assignment procedures is essential to avoiding this defense.
This topic will help lenders understand the procedures and required documentation for transfer of a note and mortgage or deed of trust before the foreclosure is filed. The material will also explore ways to overcome the defense when asserted by the borrower. This information is essential for lenders, foreclosure attorneys, and other real estate professionals.
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