TITLE

Should Foreclosure Laws Separate Vacant Properties?

AUTHOR(S)
Dymu, Amilda
PUB. DATE
August 2011
SOURCE
Mortgage Servicing News;Aug2011, Vol. 15 Issue 8, p13
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article presents an analysis concerning the relation between mortgage foreclosure and vacant properties in the U.S. It stresses that lack of legislation that would allow lenders and servicers to foreclose on a vacant property often cause unnecessary increases in real estate owned (REO) management costs. Further, it contends that foreclosure process is not useful if the owner of underwater homes abandons the property.
ACCESSION #
63191797

 

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