Foreclosure confusion
The ownership of a lot of previously foreclosed homes in Massachusetts is now up in the air.
A Massachusetts land court judge today affirmed his previous decision that invalidated foreclosures due to lack of clear title documentation (thanks a lot, mortgage-backed securities).
The ruling could effect hundreds, if not thousands, of homes in Massachusetts – and further slow up the foreclosure process for thousands of other homes. Could this further delay the housing market recovery? We’ll see.
Three words: What a mess.