Archive for October, 2012

Independent Foreclosure Review – Ends December 31, 2012

October 31, 2012 1 comment

Just as a follow up to an earlier post about the Independent Foreclosure Review through the Office of Comptroller on Currency, homeowners with qualifying mortgage loans have until December 31st to request an independent foreclosure review.

On the OCC’s website it provides some background into this program: “On April 13, 2011, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Office of Thrift Supervision announced enforcement actions against 14 large residential mortgage servicers and two third-party vendors for unsafe and unsound practices related to residential mortgage servicing and foreclosure processing.”

“As part of those consent orders, federal regulators required servicers to engage independent firms to conduct a multi-faceted review of foreclosure actions in process in 2009 and 2010. Under the orders, independent consultants are charged with evaluating whether borrowers suffered financial injury through errors, misrepresentations, or other deficiencies in foreclosure practices and determining appropriate remediation for those customers. Where a borrower suffered financial injury as a result of such practices, the agencies’ orders require financial remediation to be provided”

for more information, please check out the website at:


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Michigan Enrolled House Bill 4928 – Making it Simpler to Correct Errors in Real Estate Documents

October 25, 2012 Leave a comment

The mortgage crisis created a lot of problems in the last several years, one of those problems was the flooding of Register of Deeds offices with documents concerning real property – sheriff deeds related to foreclosures, assignments of mortgages after sub-prime lenders went out of business, etc… With this increase in filing came an increase in documents with errors.

How to fix these errors has been a matter of uncertainty.

The legislature passed a simple bill, HB 4928 to “simplify the process of correcting certain minor errors”.  A section is added to Public Act 123 of 1915 to allow affidavits to correct errors or omissions in previously recorded documents (MCL 565.451(d).

See the Enacted Bill at

Also, for a review of the legislative analysis:


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State Bar of Michigan – Real Property Articles – Including my article on Abandoned Foreclosed Property

October 1, 2012 Leave a comment

See the Real Property Section of the State Bar of Michigan’s E-Newsletter which includes my article on Abandoned Foreclosed Property



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