New York Appellate Court Holds Short Sale Documents Do Not Constitute …

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New York's Appellate Division, Second Department, ruled short sale documents do not constitute an unqualified acknowledgment of the debt or manifest a promise to repay the debt sufficient to reset the statute of limitations under New York General Obligations Law 17-101. Financial institutions and servicers should consider these decisions when assessing what arguments they have […]

Bank of America destroyed documents as borrowers tried to save their homes, suit says

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A new lawsuit says Bank of America misled borrowers trying to hang onto their homes, pushing them into foreclosure while it enriched itself off a federal mortgage-modification program. The suit, filed this month in federal court in Charlotte, is the latest to allege the Charlotte-based company abused homeowners seeking to reduce their mortgage payments through […]