Ruling throws into uncertainty RI foreclosures

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Ruling throws into uncertainty RI foreclosures

Ruling throws into uncertainty RI foreclosures

Why is it so hard to protect the people unless you’re not looking out for their interest.


Business Week-

A federal appeals court threw more than 700 Rhode Island foreclosure cases into uncertainty by concluding that there are problems with how a judge set up a program designed to force homeowners and banks into mediation.

The 1st U.S. Circuit Court of Appeals said U.S. District Judge John McConnell did not follow the proper procedures when he instituted his unique order governing foreclosures. A lawyer who represents hundreds of families suing to stop from being foreclosed upon says he fears the appeals court is jeopardizing a program that is helping people.

McConnell signed an order on Aug. 16, 2011, in which he took over all mortgage foreclosure cases in federal court in Rhode Island. The order halted the cases, suspended all deadlines and required homeowners and financial institutions to engage in “directed and serious settlement discussions” before he would allow any individual case to proceed. He placed no time limits on the discussions.

[BUSINESS WEEK]

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