Bad News for future Massachusetts home owners

Lender will likely demand higher yields or may even choose to stop lending
in Massachusetts if they can't get back their security interest when a
borrower stops paying.

From DS News

> Industry Responds to Massachusetts Foreclosure

The Friday ruling by the Massachusetts Supreme Court that invalidated two
foreclosures by U.S. Bank and Wells Fargo has prompted an outpouring of
responses from the industry, and many are wondering if the ruling will have
far reaching effects on other foreclosure sales. The Supreme Court ruled the
banks did not have the legal right to foreclose on homes in the state
because they did not have proper documentation to prove they owned the
mortgages at the time of foreclosure.



Sunil Sethi / Broker, President, REALTOR, MBA / SUNIL SETHI REAL ESTATE
38750 Paseo Padre Pkwy Suite B3 / Fremont, CA 94536

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