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Wednesday, September 12, 2007

Wieland: Mortgage crisis effects are reaching the courts

The newest edition of News From Your Court, the monthly newsletter from Minnesota’s Fourth Judicial District, contains an interesting and timely entry from Chief Judge Lucy Wieland.

“Foreclosures and the Hidden Cost” examines the trickle-down effect of the residential mortgage meltdown in terms that drive home how the crisis is impacting not just lenders and homeowners, but everyone – including the courts, which are feeling the stress in the form of an increased caseload resulting from ballooning Housing Court filings.

“The impacts on people attending Housing Court include fewer options for hearing dates and full calendars meaning longer waits in court,” writes Wieland.

The article is an interesting inside look at how far the ripple effects from such a vast problem can reach.

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