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Rethinking Foreclosures

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A new bill is circulating to reduce the burden on homeowners who are selling foreclosed homes. The time to sue for the title would reduce from 20 years to three, and would only recover financial damages rather than the title itself. Naysayers claim this hurts the original owners, who may be stuck with a bank that drags out the process until their is no legal recourse against the bank taking over the home. Historically, homes have been auctioned off before courts granted mortgage ownership to the lender. [Globe]