Comments on: Cramdown Legislation & Blue Dogs

By: Justin Bartlett

Justin Bartlett — Thu, 18 Jun 2009 16:01:41 +0000

Putting more authority in the hands of bk judges will certainly aid homeowners that are facing foreclosure.

By: Tom Koziol

Tom Koziol — Sat, 18 Apr 2009 14:34:28 +0000

OP,

Thank you for your comment.

By: Tom Koziol

Tom Koziol — Sat, 18 Apr 2009 14:33:52 +0000

Suzette,

You are absolutely correct. However, the other side of the coin is in the legislation being proposed. It changes the contract which, in effect, will re-write centuries of established contract law.

By: Suzette

Suzette — Sat, 18 Apr 2009 05:34:35 +0000

Modifying your loan (changing terms to better suit your needs) is becoming increasing popular as lenders realize the true costs of foreclosing and settlements are reached with large lenders to force modification.

If you have had a recent financial hardship, job loss or change, divorce, illness, or family problems, you may be able to qualify for one of these programs. In addition, your loan docs may have been drawn incorrectly causing a “truth in lending” or other such violation that makes lenders eager to correct when faced with legal pressure.

There are several possible outcomes though.

By: OP

OP — Sat, 18 Apr 2009 01:37:23 +0000

Language really is such wonderful thing.

Thank you for posting such a socially relevant topic.

By: Tom Koziol

Tom Koziol — Fri, 17 Apr 2009 21:23:34 +0000

Joe,

A lot of people are asking the same question and saying the same things you just said. I guess the politicians truly don’t listen to either the rule of very well established law or the people. I hope you didn’t vote for an incumbent…

By: Joe Marinelli

Joe Marinelli — Fri, 17 Apr 2009 21:14:53 +0000

Isn't a contract a contract? What good will come from cramdown legislation that basically gives judges the rights to devalue an investors (risk takers) contract or property. Won't we all pay for this added level of risk "investors" will be taking on?Joe Marinelli’s last blog post: Is Passion important when buying a franchise?