A couple of months ago, we wrote an article about why we should care about foreclosures. After all, as banks and opposing lawyers have told me, foreclosures come after the home owner got a loan and, for whatever reason, did not make the payments as agreed upon. If you haven’t read our previous post, I highly recommend it reading it to get a better picture of the current state of foreclosures.
I have been preaching for a while that foreclosures are about much more than just fairness to the home owner (though I believe that fairness should certainly be the starting point). Finally, in their recent ruling, the Massachusetts Supreme Court has come out and said it too. We are a country of laws, and foreclosure defense is about making sure our laws are followed. Justice Cordy of the Massachusetts Supreme Court, in his concurring opinion, summed it up perfectly:
“Although there was no apparent actual unfairness here to the mortgagors [homeowners], that is not the point. Foreclosure is a powerful act with significant consequences, and Massachusetts law has always required that it proceed strictly in accord with the statutes that govern it. As the opinion of the court notes, such strict compliance is necessary because Massachusetts…allows for [nonjudicial] foreclosure.”
What’s true in Massachusetts here is true in all 50 states. Foreclosure is a powerful act with significant consequences. Because the state legislatures and courts have allowed for that remedy, it is crucial that the laws be strictly followed.
This is one of the reasons I fight for homeowners facing foreclosure. If you are facing foreclosure or eviction, you should hold the banks to their responsibilities and make sure they are also following the laws of our land.