Foreclosure Update: Get the Facts, Share the Facts

November 3, 2010

When several lenders halted foreclosures and the sale of real estate owned (REO) properties due to possible flaws in documentation used in the foreclosure process, questions were raised about the validity of title to properties that had been foreclosed and resold. ALTA worked immediately with regulators and lenders to bring certainty back to a chaotic situation. Read on to get information on ALTA’s response, FHFA guidance and indemnification. ALTA has also provided a comparison of the foreclosure process in judicial and non-judicial states, timeline involving the judicial foreclosure process and information about right of redemption after a foreclosure sale.

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SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.