Posts in Mortgage Foreclosure.

A recent federal appellate court ruling illustrates the traps lenders could trip when state court collection actions against joint borrowers intersect with federal bankruptcy law.

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https://www.ftc.gov/system/files/documents/statutes/fair-credit-reporting-act/545a_fair-credit-reporting-act-0918.pdfCourt rules that bank, which accepted a borrower's voluntary payments post-bankruptcy and opted not to foreclose its security interest in the mortgage, did not violate the FCRA by reporting the loan as closed on the borrower's credit report.

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Appellate court rules on whether lender can sue to enforce other security in a loan default situation without also foreclosing on the borrower's mortgage.

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