“90 to 95 percent” of residential foreclosures in Georgia from mid-2008 to 2011 could be susceptible to a challenge based on lack of disclosure.
The Georgia Court of Appeals held Thursday that the name of the actual owner of a mortgage must be present in foreclosure filings and notices sent to delinquent borrowers.
The court said that if a debtor knows a mortgage servicer no longer holds the loan, for instance, he could be “misled or confused, or simply disregard, a notice of foreclosure” that doesn’t correctly identify the loan’s proper owner.
READ MORE: http://www.ajc.com/business/ruling-could-have-impact-1477983.html
