Bank of America, GMAC, and EMC/Chase are FREEZING Foreclosures due to Defective Documents

Robo-signers should have been whistle blowers. How can someone in that position not realize how wrong it is to sign documents without reading them?

This is just the tip of the iceberg and it demonstrates what happens when the focus is more on a document crisis rather than any clear vision and national policy on how to handle this already tragic housing market. If homeowners could NOT have been pushed into foreclosure and instead there were home loan modification programs which required the banks to participate, perhaps our housing sector market could be stabilized - without lying to the courts, homeowners or homebuyers.

Ask your Congressman and Senator why they did not allow cram downs (where the secured loan is revalued to market value) usually by bankruptcy judges for a mortgage on a primary residence. This was possible until 1978. It is time for our elected officials to stop deferring to banks and make a difference with considering cram downs as a viable alternative.

Emily our Senator's and Congress folks are all on the bank payroll. I had a situation with a foreclosure for one of my sellers and we contacted the Senator's office for help- we were told they have a "closed door" policy, please fax your case file. Which we did and never heard back anything. The banks will continue their foul play just because they are in "protected" by politicians

Emily....we have been watching this is great interest;  the impact on the housing market is yet to be seen. The sadly funny part of this is that recently Barney Frank--of the F&F twins 'there is nothing wrong with Fannie or Freddie....' quote does not seem to even know about this 'freeze', or  his part in the problem. 
the loan modification programs around the nation are too varied to decipher and therefore no one is minding the store, as usual.  Will this freeze help anything is very much up in the air 

Have a good rest of the week.

Barb & Sal 

Banks should expedite short sales so they can avoid the title problems associated with their flawed paperwork.

How will this effect short sales Regina? Will the banks shift more employees to handling the short sale process?  I do not think so!