Will this stop foreclosures? (foreclosure, mortgage, banks, attorneys)

[modeerf]

Not that the congress works for us or anything, but at least this is a nice token towards some sort of stabilization of most peoples largest asset.

URGENT ACTION ALERT -HR 344 - US CONGRESS TO CONSIDER FRAUDCLOSURE MORATORIUM - Foreclosure Hamlet

[NinaN]

It might make the banks take more time to improve their processes and do everything by the book. But the banks will foreclose if the borrower isn't paying their mortgage. They cannot let people stay in their houses for free forever. It just won't happen. It shouldn't happen.

[modeerf]

Originally Posted by NinaN

It might make the banks take more time to improve their processes and do everything by the book. But the banks will foreclose if the borrower isn't paying their mortgage. They cannot let people stay in their houses for free forever. It just won't happen. It shouldn't happen.

Each case needs to be looked at on it's own merits.

If an Audit was done on each MBS/CDO that was bailed out by TARP and or illegally Rated and Insured, or robosigned and not recorded according to state laws, then the offending party should compensate the homeowners.

It's a goldmine of fraud for any Attorneys out there looking to pay off their college loans.