It is indeed time to sort out the mess brought about by sloppy paperwork regarding foreclosure procedures. With homeowners filing lawsuits left and right plus state attorneys general combining efforts to investigate on the matter, banks are really under hot water. They face further heat as they are set to make appearances in twin hearings in Congress this week.
Congress hearings on foreclosure practices are set for Tuesday and Thursday this week and are expected to renew pressure on banks to come up with ways of keeping borrowers in their homes. …

Legislation Protects Consumers Purchasing Foreclosed Properties
SACRAMENTO, Calif. — The Escrow Institute of California announced today that Governor Schwarzenegger signed Assembly Bill 957 into law. This bill, authored by Assembly Member Cathleen Galgiani (D-Tracy), protects consumers by ensuring that they have the right to choose their own real estate service providers when purchasing foreclosed properties.
AB 957, known as the Buyer’s Choice Act, prohibits sellers of so-called REO properties - typically foreclosed properties owned by banks - from requiring the buyer to use a particular title company, escrow settlement or other real …

NEW YORK, Feb. 1 — In a major expansion of its East Coast real estate, finance and real estate restructuring practices, Haynes and Boone, LLP announces the addition of six partners who bring a wealth of experience, particularly representing top-tier New York financial institutions, real estate funds and private equity groups.

All six partners are making the move to the Haynes and Boone Finance Practice from the Paul Hastings New York-based real estate finance and restructuring practices. Four of the six are focused on real estate finance. They are Kenneth J. …