[pnh102]

In all fairness, banks SHOULD be made to ensure that the foreclosures being undertaken are fully legal and properly documented. We continue to read about banks seizing the wrong houses, changing the locks and throwing people and their belongings out on the street and... get this... LUCKY FOR THEM they have a shiny piece of paper that says it is OK for them to make this kind of mistake.

This should not be legal. In these situations the banks and their employees are no different than home invaders or robbers, and should be dealt with accordingly.

[tobyhill]

This is nothing but the Government telling the banks to stop foreclosures in order to keep the people in the houses a bit longer, the houses they couldn’t afford.

[tobyhill]

I haven't read of too many cases where the wrong house was seized and besides there's already laws that give homeowners warnings before foreclosures and time to rectify the situation. If by chance there has been a wrongful foreclosure the courts are the ones designed to settle the score, not the bureaucrats in Washington.

Banks have no incentive to foreclose on properties that people are current on payments and obligations.

[SC_Pete]

Sure but what percentage are problematic? This is laying the groundwork for another bailout. In the name of saving the borrowers, we will actually be......

BAILING OUT THE BANKS AGAIN!!!! This is like Obama beating up on Goldman—misdicrection—what a sham.