Accelerating Blighted Property Foreclosures

first_img Related Articles Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News, Print Features Tagged with: Foreclosure Vacant Properties January 25, 2019 2,664 Views Editor’s note: This feature originally appeared in the January issue of DS News.In June 2018, Pennsylvania enacted the Vacant and Abandoned Real Estate Foreclosure Act, creating a new process for foreclosure of blighted properties. This legislation, effective December 16, 2018, will be key for servicers and lenders, as it can drastically reduce time frames and save costs that existed under the prior process. The Pennsylvania legislature declared that “Vacant and abandoned real estate, coupled with a default in the obligation to make mortgage payments secured by that real estate, presents a danger to the health, safety, and welfare of a community.”The legislature concluded that “An accelerated procedure is needed to maintain the due process rights of owners of real estate and to reduce unnecessary delays in an action of mortgage foreclosure … to recover real estate that is vacant and abandoned.” There are three ways of establishing abandonment. A property shall be “certified” as vacant and abandoned if (1) a creditor has been designated as a “conservator” of the property under the Abandoned and Blighted Property Conservatorship Act; (2) the property is certified as vacant and abandoned by the municipality in which the property is located; or (3) the property is certified as vacant and abandoned in a judicial proceeding. Under the Municipal Certification process, a property shall be deemed vacant and abandoned by the municipality if a creditor requests that a municipal code enforcement officer make such a determination.The code enforcement officer must inspect the property and determine that it is abandoned under the criteria set forth in section 2305. The officer shall then provide notice of the determination and an opportunity for hearing to contest the determination. If the owner, after receiving notice and opportunity for hearing, fails within 30 days to seek review of a determination that the property is vacant, the determination will be final.The third alternative is the judicial certification process. A property shall be deemed certified as abandoned when a creditor or purchaser files a request with the court to issue a rule to show cause. The creditor must submit an affidavit supported by images or other appropriate evidence, alleging that the property qualifies for certification as vacant and abandoned under the requirements of section 2305. The request may be filed together with the original complaint in the proceeding or at any time during the course of the proceeding. The required affidavit may be provided by a municipal code enforcement officer, the creditor, purchaser, or by a competent adult who has personal knowledge of the condition of the property.Section 2305 sets forth the indicia for determination of abandonment, and the property must satisfy at least three of the following:windows, doors boarded up, unhinged, closed off, or smashed inproperty stripped of copper or other metalsfurnishings, personal items, appliances, or fixtures removed » utilities terminatednewspapers or mail accumulated, or delivery discontinued by USPSrubbish, trash, or debris accumulatedmultiple municipal building/housing code violationswritten statements by neighbors, delivery persons, or municipal code enforcement officers indicating that the property is abandonedhazardous, noxious, or unhealthy substances accumulatedcommunication from the owner stating that he has vacated the property or intends toAn owner may respond in the judicial proceeding by filing a statement that the property is occupied. The response shall include a denial of any of the factors listed above that are considered in the determination of vacancy. If a response is not filed within 20 days after being served, the court shall render an order certifying the property as vacant. If a timely response is filed, the court shall schedule a hearing to determine if credible evidence exists to certify the property as vacant within not fewer than 20 nor more than 30 days after proof of service of the rule to show cause. Following a certification that a property is abandoned, any subsequent documents required to be served on the owner may be served and delivered by first-class mail to an address specified by the owner for the receipt of communications relating to the property or, if no address is specified, by delivery to the address of the property and by posting of notice in a conspicuous location on the property. This saves significant time and cost involved with the regular foreclosure process requiring personal service of a Notice of Sale. After certification of vacancy, the Act lays out the process for expedited Sheriff’s sale.According to section 2306, a property certified as abandoned shall not be subject to mediation or conciliation established by a local court to encourage resolution of owneroccupied residential mortgage foreclosures. When certified as vacant, upon the request of a creditor, the sheriff, on receipt of an accelerated sale fee of $500, shall schedule a sale of the property to be conducted no later than 60 days following the filing of the writ of execution and the sheriff’s deed must be recorded no later than 30 days following the sale. This is a significant savings of time from the regular foreclosure process. Finally, if a property is certified as abandoned, or with the consent of the owner, the creditor may enter the property for the purpose of inspecting, maintaining, and repairing the property, and the creditor shall not be liable to the owner for trespass or damage resulting from something other than the creditor’s gross negligence or willful misconduct.Remediation of conditions that provide evidence of abandonment by the creditor or corrective action taken by a municipality to protect public health and welfare shall not prevent a property from meeting the requirements to be certified as vacant and abandoned. Both of these provisions are excellent additions that will benefit lenders and servicers. As there are significant benefits for lenders and servicers, servicers should be actively reviewing current portfolios for properties that may be able to take part in the new expedited process. Home / Daily Dose / Accelerating Blighted Property Foreclosures Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Foreclosure Vacant Properties 2019-01-25 Donna Joseph Share Save Sign up for DS News Daily center_img About Author: Stephen M. Hladik Previous: How AI Will Transform the Mortgage Industry Next: When Vets Fall Behind on Mortgage Payments … The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Accelerating Blighted Property Foreclosures Stephen M. Hladik, Esquire, is a principal in Hladik, Onorato & Federman, LLP. Formerly the youngest Deputy Attorney General in charge of the Harrisburg office of the Pennsylvania Bureau of Consumer Protection, Hladik brings a broad range of experience to his mortgage foreclosure, bankruptcy, tax sale, and UDAP legal practice. Subscribelast_img read more

CAF CONFEDERATION CUP: Rangers Win in Egypt, Fail to Qualify for…

first_imgHowever, the victory was not enough to guarantee the Flying Antelopes qualification for the quarter final. Al Masry 1-0 victory over Nouadhibou of Mauritania effectively eliminated Rangers from progressing to the last eight stage.The lone goal scored by Ifeanyi George in the 73rd minute was however the first time any club will beat the Egyptian team on home soil at the Air Defence Stadium. It was  also the first time ever that the Flying Antelopes have won a match in Egypt.Ifeanyi George latched onto a long pass from Msonter Shimaga to skip past his marker and beat the advancing keeper in the 73rd minute.The hosts were guilty of squandering some easy chances, including a glaring one from Ghanaian striker John Antwi with the goal at his mercy and a close-range header from Mohamed ElGabbas that was brilliantly denied by Nigerian keeper Nana Bonsu.After securing the top spot of this group with 12 points from their previous four matches, Pyramids FC Coach Ante Cacic rested several of his key players such as skipper and schemer Abdallah El-Said, winger Islam Eissa, midfielder Emad “Dunga” Nabil and defender Ali Gabr.Enugu Rangers are now third in the group with five points, four points  behind Egyptian side Masry defeated  FC Nouadhibou of Mauritania later yesterday.Rangers’ last match will be at home against Al Masry.Nigeria’s other team in the second tier continental competition, Enyimba FC  were held 1-1 by Hassania Agadir of MoroccoThe People’s Elephant however remain in contention for the quarter final. Their chances were brightened by the goalless draw Paradou of Algeria played with   FC San Pedro of Cote d’Ivoire late last night. They just need to avoid defeat in their last game with the Ivorians next Sunday to berth in the Quarter final.In Group B, Morocco’s RS Berkane hammered ESAE of Benin Republic 5-1to qualify for the quarter finals even with a game to spare. Zambia’s Zanaco needs just a point from their last group game to also berth in the quarter finals.In Group C, Horoya of Guinea defeated Bidvest of South Africa 2-1 to lead the group. The battle for the second ticket from the group is between Djoliba of Mali and Al Nasir  SC of Libya. Nigeria’s Enugu Rangers ended the four-match unbeaten run of fast rising Egyptian team, Pyramids FC in the CAF Confederation Cup Group A with a 1-0  away victory yesterday evening. Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram ReplyForward *Enyimba on course for Last EightDuro Ikhazuagbelast_img read more