Friday, October 15, 2010

Obama engaged on housing foreclosure troubles | Reuters

NOTE: SO WHAT DOES THIS MEAN?  Is he buying the bank Ceo's engagement rings?  Come ON. I am engaged what does that mean? Legal ramifications, stepping in to make changes to benefit homeowners (I thougt the government had some interest here) or WHAT .. Is the government investigating itself in the case of GMAC and the "MAC's freddie and fannie?".  I may still not get it all but I wasn't born yesterday.  2 weeks before election and you don't want to piss anyone off.  TOO LATE!

Obama engaged on housing foreclosure troubles | Reuters: "(Reuters) - President Barack Obama is 'engaged' on the issue of botched housing foreclosures and wants to make sure mortgage servicers live up to their obligations, the White House said on Friday."


NOTE: as always click title link for full article... it is short.

MY OP: OBAMA which PART of the obligation do you want themn to live up to... 1) servicers cannot foreclose see the laws
2) servicers dont' have obligations the true creditor or holder in due course has obligations: see contracts
3) obligation to apply payments to loan: see contract then sales of contracts

4) how about the obligation to be honest in the making of teh contract. Fraud visciates everything: SEE my posts last couple of days.

1 comment:

Gerry said...

Thank you for the post. Another problem in foreclosed properties problem is that the large number of cases that feature sketchy documentation presented by a lender to prove ownership. Added to this are the multiple transfers characterizing many mortgage transactions, each draped with a bewildering assortment of documentation. These are some simple information. Thank you.



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