Perspective
Apr. 8, 2011
Lender Beware: Foreclosure in a Vacuum
Institutional lenders and handlers of foreclosures and loan modifications should coordinate their activities so no one lands in court. By Ian A. Rambarran, Jose A. Mendoza and Anusha E. Pillay of Klinedinst PC.
The California Court of Appeals has made it easier for borrowers to sue a lender that offers mortgage loan modification assistance, while at the same time, forecloses on the borrower's residence. Most institutional lenders, loan modifications and foreclosures are often handled by completely separate departments or companies. This creates the real possibility that one department could proceed with an a...
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