Attorney General Issues Statement Regarding Completed Foreclosure Sales
Washington, DC – December 20, 2010 – (RealEstateRama) — Attorney General Peter Nickles issued an enforcement statement* recently to clarify that the Office of the Attorney General (OAG) will not be challenging the validity of completed foreclosure sales based on failures to comply with the recordation obligations imposed by District law.
The statement follows the Attorney General’s October 27, 2010, Statement of Enforcement Intent Regarding Deceptive Foreclosure Sale Notices and the related “Questions and Answers” issued November 16, 2010. All three statements apply to foreclosures involving owner-occupied residential property in DC.
The primary purpose of the recent statement is to reassure purchasers of foreclosed homes in the District of Columbia that the OAG does not intend to seek rescission of completed foreclosure sales based on foreclosing noteholders having failed to file, with the District’s Recorder of Deeds, the assignments and endorsements supporting their authority to foreclose. At the same time, OAG will seek to ensure that, going forward, DC homeowners have access to public records that will allow them to determine who does or does not have the authority to foreclose on their homes.