How do we cancel a foreclosure action after it has been submitted either under step 1, or both step 1 and 2?
The filing does not need to be cancelled, since it was true when made. If you have submitted a filing in Step 1 and the borrower becomes current, no further action is needed. If you have submitted a filing for both Step 1 and Step 2 and the foreclosure process does not proceed, no further action is required. We understand that not all 90-day pre-foreclosure notices result in lis pendens filings, and not all lis pendens filings result in a foreclosure. However, we are considering adding an additional filing requirement, in which the actual foreclosure filing would be reported.
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