House Committee Votes On Mortgage Bankruptcy Bill

RE:House Committee Votes On Mortgage Bankruptcy Bill

Joseph Auciello — Tue, 15 Apr 2008 11:00:00 GMT

I really need to know this subject. I will appreciate answers. 1. Is it true that Chap 13 Bankruptcy can not restructure current mortgage payments? I think so, but am not positive. 2. Is it true that if the company foreclosing is different that the original lender, and the homeowner files that in an "answer" to foreclosure, that the foreclosure suit can be cancelled? I am really working on understanding this, and will appreciate any and all responses, email me at joseph@auciello.net please

RE:House Committee Votes On Mortgage Bankruptcy Bill

Nancy — Sat, 23 Feb 2008 13:00:00 GMT

The government needs to stay out of private mortgage contracts and quit coming up with all of these creative ideas about modifying mortgages. If they want to give debtors who won't pay their bills a fresh start, let them give the fresh start instead of forcing the lenders to give them the fresh start. If they don't want to see someone lose their home, why don't they buy the loan from the original lender and give the debtor the loan the government wants them to have instead of forcing the lender to agree to things it never agreed to do. The government is going to make it so that no one will lend any one any money for anything, because you can't rely on a contract when the government sticks it's nose in and changes everything the way it want it. You try getting behind on something you owe the U S government and they cut you no slack at all. Maybe it is the high property taxes that are over $3000.00 a year on some homes that make it impossible for the homeowner to afford his home, but you never hear of the government talking about lowering property taxes, they blame it on the interest rates and fees. Have you checked out the late fees on property taxes that are added each month? If you get a traffic ticket for $60.00 and pay it late, it turns into a $205.50 ticket in 3 weeks time. The government needs to take responsibility for it's part in why people can't afford to pay their bills, considering they charge sales taxes, personal property taxes, real estate taxes, city taxes, state taxes, county taxes, gift taxes, luxury taxes, sewer taxes, inheritance taxes and even death taxes! But they want to blame it on the people who loan money and say they are the cause that people can't pay what they borrow. It's a bunch of crap.

RE:House Committee Votes On Mortgage Bankruptcy Bill

Adi Sadh — Wed, 19 Dec 2007 13:00:00 GMT

Foreclosures must be stopped by reducing costs/ rates thru Technology, & refinance thru FHA/Fannie Mae, Freddie Mac to save economy from disaster, So lending to borrowers is risk free for lenders & from origination to distribution & servicing of loans must be handled by technology and manpower, outsourced to lowest bidder & all costs to be covered by charging 1% over the Treasury/ Fed rate which means universal interest rate 5-6% range with risk based Insurance premium.