In submitting any future orders of reference said application shall include an affidavit from plaintiff indicating whether this loan is subject to a H.A.M.P. review and whether plaintiff is or is not prevented from proceeding with the instant foreclosure by reason of any applicable federal H.A.M.P. directives.
This is great and the right thing to do!! I commend this Judge for fairly and legally accessing these cases. Foreclosure is so profitable because mortagages backed by Fannie Mae and Freddie Mac are insured for the mortagage value not the fair market value. This insurance needs to be changed to reflect that pay outs will be for today’s marke value of the home. The valuse of our homes is trully tied into supply and demand, thus the past inflated value is being diminished. The principal of our mortagages should also be diminished. President Obama said participation in the HAMP program would do that….The banks should also be fined for intentionally obstructing this process preferring foreclosue…the banks need to be taught a lesson!
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http://cop.senate.gov/press/releases/release-102210-foreclosure.cfm
This is great and the right thing to do!! I commend this Judge for fairly and legally accessing these cases. Foreclosure is so profitable because mortagages backed by Fannie Mae and Freddie Mac are insured for the mortagage value not the fair market value. This insurance needs to be changed to reflect that pay outs will be for today’s marke value of the home. The valuse of our homes is trully tied into supply and demand, thus the past inflated value is being diminished. The principal of our mortagages should also be diminished. President Obama said participation in the HAMP program would do that….The banks should also be fined for intentionally obstructing this process preferring foreclosue…the banks need to be taught a lesson!