NCLC Report: Antiquated State Laws Harm Homeowners, Fuel Foreclosure Crisis

From the National Consumer Law Center:

• While many states have taken steps in recent years to strengthen the rights of renters, only a handful of states have updated their home foreclosure laws, which are now "tilted against homeowners" and acting as a little-understood factor that is helping to accelerate the U.S. home foreclosure crisis, according to a major new report by the National Consumer Law Center (NCLC). Based on a survey of existing state laws, the NCLC report identifies some of the most antiquated state law provisions, including "fast track" foreclosures without any court oversight in 30 states and no requirement of direct notification to homeowners in 33 states upon the initiation of foreclosure proceedings.

For the report, see Foreclosing A Dream: State Laws Deprive Homeowners of Basic Protections.

Go here for the entire NCLC press release.

Thanks to Scott Stapf at The Hastings Group, LLC in Arlington, Virginia for the heads up on the report.