Many times, our clients will rely on the foreclosure process when unit owners are not paying their common charges. On occasion the unit owners will have a mortgage on their unit. When this is the case, the Association has to list the mortgage in its foreclosure action to ensure that the Bank has notice of the foreclosure and obtain clear title should the foreclosure process be completed.  In recent years, the banking industry has seen highs and lows, with some of the lows causing various entities to file Bankruptcy. Most recently, Ditech Holding Corporation and all of its acting entities have filed for Chapter 11 Bankruptcy protection in the Southern New York District Bankruptcy Court.   Read the article………………………