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[12 Nov 2011 | 4 Comments | 10,867 views]
Bankruptcy court ruling slows down foreclosure sales in state

A Chapter 13 bankruptcy case in the Eastern District of Arkansas, Jonesboro Division, has caused title companies in the state to investigate foreclosure sales to determine if the properties were properly taken back by lenders.
In a Sept. 29 decision, the court held that a lender not authorized to do business in the state of Arkansas was not in compliance with the state’s non-judicial foreclosure laws. That case, In Re Johnson, concerned objections filed by J.P. Morgan Chase Bank and the related Chase Home Finance regarding the confirmation of three Chapter …