Sunday, January 05, 2014
Maryland foreclosures increase, as unintended consequences of consumer protectionism; deficiencies a different matter
NBC Washington reports additional complications on the foreclosure issue discussed here Jan. 1. Maryland is one of the states requiring court approval of foreclosures. That was supposed to protect consumers. (Texas, for example, does not.) But the slow-down as a result shortly after the 2008 crisis has resulted in increased foreclosures in Maryland more recently, with some homeowners chased because of small arrears. The story is here.
Can someone really be chased for deficiency in an identity theft situation where the “real” person never really had title to the property? This would sound like a bigger danger in states that don’t have judicial supervision of foreclosures.