Just a quick development in the ongoing foreclosure mess:
I learned through an article in the Dallas Morning News that Texas Attorney General Greg Abbott called for a moratorium on all foreclosures in the state due to concerns about defects in the foreclosure process. The letter to 27 lenders and servicers demanded that any employees that engaged in illegal foreclosure practices are identified by October 15. The moratorium would also be in effect until the same date (side note, as today is already October 5, doesn’t 10 days seems like a very short period of time for these companies to identify employees who may have acted illegally?).
This is just the latest in a line of governors and attorney generals who have called for moratoriums on foreclosures while this mess is sorted out. I will do my best to keep you up to date as this story develops.
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