Laws Make it Easier For Banks to Foreclose on Homeowners in Tennessee
A new state law in Tennessee is making it easier for banks to foreclose on homeowners in the state. This bill illustrates the power of the big banking lobby, as state legislators went against the welfare of the people in voting to pass the legislation. Due to widespread and well-documented misconduct and mortgage fraud on the part of lenders, a majority of states require banks o file court action and get approval from a judge in order to legally begin a foreclosure proceeding.
Tennessee is one of only five states that allow banks to foreclose without any judicial oversight, which makes it cheaper and easier for banks to foreclose on property owners here then in any other state. If the new bill becomes law, banks will be able to begin foreclosure proceedings against home owners whose cases are still under review for improper lending practices.