Richard D. Vetstein, Esq. was recently quoted in a Banker & Tradesman article on recent federal appeals foreclosure rulings. Mr. Vetstein was quoted as saying:
The rulings are “a wakeup call” for attorneys to make sure assignments in proper order, said Rich Vetstein, an attorney in private practice in Framingham and author of the Massachusetts Real Estate Law Blog. Title companies are giving close scrutiny to such matters, and anybody looking to buy or sell a property with a foreclosure in its past will have to be prepared to deal with the assignment issues.
“If a title company were to see [a potentially back-dated assignment], they’d make you’d file an affidavit confirming that you had reviewed their files,” and there was evidence that the mortgage had been assigned before the foreclosure proceeded said Vetstein. “That might be tough to do, but that’s why you’ve got to do. It’s got to be thorough.”