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A recent court decision held that a foreclosure in Massachusetts that a clear chain of title must be established to show that the party foreclosing is the valid holder of the mortgage. Although the decision is binding only in Massachusetts, the case illustrates the importance for lenders and securitisation trustees of understanding state foreclosure laws and hold all relevant documents before entering foreclosure proceedings
On July 30, in response to the continuing housing and credit crisis, the Housing and Economic Recovery Act of 2008 (H.R. 3221) (the “Act”) was signed into law
