Foreclosure Proceedings Limited

first_imgHome / Daily Dose / Foreclosure Proceedings Limited Governmental Measures Target Expanded Access to Affordable Housing 2 days ago September 11, 2017 1,092 Views Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Readjusting After the Storms: Fed Rates Next: Index Reveals a Rise In Foreclosure Activity The Best Markets For Residential Property Investors 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Foreclosure Proceedings Limited  Print This Post Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Related Articles A Maine supreme court has ruled that foreclosure proceedings are limited to one attempt, according to a report. While foreclosure may be a long and drawn out process, there could be new hurdles to surmount in the future.Recently, Fannie Mae attempted to initiate a second foreclosure proceeding on a family located in Maine. The family first bought the property in 2004 for $127,920, and initial foreclosure proceedings were filed in 2011. According to the report, lawyers representing the GSE failed to respond to the judge’s orders, and in result the judge dismissed the case.The GSE attempted to initiate a second foreclosure proceeding, but the family fought the ruling, stating that the second suit was no different than the first. The court sided with the family.Default in rural Maine is a deep seeded issue due to industrial economies, according to the report. The family’s property value fell by over 70 percent, putting them deep underwater.In response to the decision, the family’s attorney issued this statement, “It reinforces case law that says you really get only one bite of the apple,” said James Cloutier.According to the report, Fannie Mae did not return a call for comment.center_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Foreclosure 2017-09-11 Joey Pizzolato in Daily Dose, Featured, Foreclosure, Headlines, News About Author: Joey Pizzolato The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Foreclosurelast_img read more