Posted on Monday, April 19, 2010
Who doesn’t favor judges making sure bank’s foreclosures lawyers follow the rules? Especially where folks losing their homes who often can’t afford their own lawyers are concerned. The problem is, doing so is often detrimental to these homeowners in the long run.
Having to withdraw and then resubmit foreclosure pleadings to comply with a judge’s demand takes legal time – translates to money. All the while interest, late fees and other costs associated with the defaulted mortgage, which the homeowner is often eventually be responsible for once when the foreclosure is completed, continue to accrue. Thus, unless the judge imposes sanctions against the lawyer, what at first blush appears to be something done by a judge to protect a homeowner often eventually does more harm than good.