University of Notre Dame Associate Clinical Professor of Law Judy Fox was interviewed by MSN.com about “bank walkaways,” a new trend in the way banks are approaching home foreclosures. The online article describes it this way:
Across the country, banks are starting to foreclose on homeowners and then, often with no word or explanation, failing to take possession of the home… For homeowners, this can sound like great news: The bank goes away, you get your house back without a mortgage and life goes happily on, you might think. But of course nothing is that simple.
Fox told MSN.com, “I know several people who are thrilled by their situation, but I don’t think they should be that thrilled. I think they have inherited a legal nightmare.”
To read the entire article, including more quotes from Fox, visit: http://realestate.msn.com/article.aspx?cp-documentid=21782888
Fox runs the Economic Justice Project at the Notre Dame Legal Aid Clinic. Her advocacy and research focus on issues of predatory lending, primarily in the housing market. She is on the Advisory Board of the Indiana Foreclosure Legal Assistance Program, the predatory lending committee of the Bridges out of Poverty Initiative and the National Association of Consumer Lawyers.
Earlier this year, Fox testified before the Indiana House Financial Institutions Committee and the Senate Judiciary Committee on mortgage foreclosure issues.
For more on Fox, visit /people/faculty-and-administration/clinical/judith-fox.