Judge Rules that Lenders Can't Refile Failed Foreclosures
PORTLAND, Maine (AP) _ The Maine supreme court has ruled a mortgage company can't have two bites at the apple when it comes to a foreclosure proceeding.
The court has unanimously upheld a ruling against Fannie Mae, which tried to start a new foreclosure process on a property in Lincoln after a judge threw out the original case.
A lawyer for the property owners called the ruling a victory for consumers, saying the Thursday court decision makes clear that rules must be applied equally to lenders and borrowers. He says it ensures that lenders can't try to refile a foreclosure case that it already lost.
Lawyers for Fannie Mae didn't immediately return a call seeking comment.