Foreclosure Update: Get the Facts, Share the Facts

November 3, 2010

When several lenders halted foreclosures and the sale of real estate owned (REO) properties due to possible flaws in documentation used in the foreclosure process, questions were raised about the validity of title to properties that had been foreclosed and resold. ALTA worked immediately with regulators and lenders to bring certainty back to a chaotic situation. Read on to get information on ALTA’s response, FHFA guidance and indemnification. ALTA has also provided a comparison of the foreclosure process in judicial and non-judicial states, timeline involving the judicial foreclosure process and information about right of redemption after a foreclosure sale.

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