subject: New York to pass the first filing certification for foreclosure [print this page] New York to pass the first filing certification for foreclosure
Out of the darkness of the foreclosure mess, rises the first requirement to certify foreclosure paperwork from the lender's counsel. Attorneys representing the lender are now going to be required to file an affirmation with the New York courts certifying they have reviewed and verified the accuracy of the documents. This new ruling comes after the fallout of the "robo-signing" that came apparent in late 2010. Of course, the goal is to prevent any wrongful foreclosures and to help the lenders and the home owners.
Recently the state of Massachusetts reversed two foreclosures that date back to 2007. With the probing of the lender's foreclosure process and servicers also under review it is becoming clear this epidemic is more wide spread than originally thought.
While foreclosures, loan modifications and short sales continue to rise, we are seeing a trend of foreclosures getting postponed as more lenders/servicers are trying to make head way and keep things from getting any worse. After all, we do have the human factor to consider and people do make innocent mistakes. In any system it is certainly a good idea to never assume and to always double check, because it is that one time when you don't that can make the difference. This is your home, a basic need we all need, let's make sure the lenders are crossing there T's and dotting their I's, before we take away someone's home.
So this is what you will need to know:
Applies to new cases:
The affirmation must accompany the Request for Judicial Intervention.
Pending cases:
The affirmation will have to be submitted with either the proposed order of reference or the proposed judgment of foreclosure.
Foreclosure Judgment: If you have received a foreclosure judgment but the property has not been sold by auction yet, the lender's attorney has 5 days prior to the auction date to submit the affirmation to both the court referee and a copy must be filed with the court within 5 days of the sale date auction.
If new facts emerge a new amended version of the affidavit will have to be filed. All of this is to have a sound check and balance in place, something the lenders are probably rolling their heads eyes over. Will the other states follow suit?
