In the mortgage industry, dealing with defaulted borrowers can be challenging, especially when foreclosure becomes necessary. However, the situation can become even more frustrating when borrowers choose to sue in an attempt to prevent the sale of their property. These lawsuits are often deemed to be without merit, with some industry experts even dubbing them as instances of “wrongful infliction of money.”
Key points:
– Defaulted borrowers can make the process of foreclosure even more complicated by filing lawsuits to stop the sale of their property
– These legal actions are typically seen as lacking in merit, leading to frustration within the mortgage industry
– Industry experts have coined the term “wrongful infliction of money” to describe these types of lawsuits, highlighting the financial impact on lenders and servicers.
You can read this full article at: https://geracilawfirm.com/temporary-restraining-orders-preliminary-injunctions-a-basic-overview/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
