A group of homeowners sought to block foreclosures in Minnesota, but their class action suit has been dismissed by US District Judge Ann Montgomery. The lawsuit claimed that homeowners were not given proper notice when they were rejected on the right to appeal when dealing with the Home Affordable Modification Program.
The attorney for the homeowners stated that new regulations have been adopted since the lawsuit was filed in July that address some of the raised concerns but that the process is not as transparent as it should be.
What has your experience been working with this program?
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We've seen some strange things here in Florida, but debt is debt. Lawyers are coming up with some unique arguments to postpone or kill the debt, but it is generally only going to bring on more debt in the form of legal fees. Homeowners in over their heads are going to pay the consequences. I feel sorry for those that played by the rules and are getting crushed because of the government programs and lack of regulators' enforcement against those that cheated or gambled.
a la mode - I did see where a Judge just forgave a couple's debt to lenders - wow I can just see the fallout from that!
Hi Kathleen,
Thank you for an informative and helpful article.
John Pusa
John - you are welcome I hope you had a wonderful Thanksgiving.