Obama Signs Mortgage Bill Into Law

New Legislation Will Encourage Lenders Not To Foreclose On Homeowners

(AP)  President Barack Obama has signed into law legislation that encourages banks to spare homeowners from foreclosure.

Obama signed the bill Wednesday in the White House's East Room. He says it protects homeowners and cracks down on lenders who take advantage of them.

The law expands an existing $300 billion program that encourages lenders to adjust a mortgage if the homeowner agrees to pay an insurance premium. The bill also extends through 2013 an increase in deposit insurance by the FDIC from $100,000 to $250,000.

The lending industry helped scuttle a tougher measure that would have forced lenders to reduce the monthly payments of owners in bankruptcy.

[dcdubbs]

The law unfortunately has not helped- why- people do not want to stay in upside down homes. Unfortunately a good portion of the people who bought homes in the past few yrs- wanted to use their homes like a checking account. When that didnt work out- they didnt want the burden anymore. So modifications have sagged because people just want to walk away.

waht needs to change is the fed needs to incorporate licensing in every state. For a list of every states mortgage laws here is a great resource:
http://www.bankapedia.com/mortgage-encyclopedia/state-mortgage-laws

[CraigBerkeley]

Rachel And Her Children: Homeless Families In America @ http://reno.broowaha.com/article.php?id=3206

The three million foreclosures have also added to the homeless despair.

illegal Is Your Lender A Patriot Or Terrorist?
http://reno.broowaha.com/article.php?id=3462

Just Do The Required Home Loan Modification
http://reno.broowaha.com/article.php?id=4070

Beware Of Fraudulent Foreclosure Notices. Many of these Notices of Default are not real, they are fraudulent and they are just another way to steal houses. Then the fraudster ?sells? the stolen house under a fraudulent Trustee?s Deed. http://reno.broowaha.com/article.php?id=3825

Reno, Nevada?s Countrywide Home Loans manager Sue Barry should also be charged with Mortgage Fraud, along with Prudential Nevada Realty former Regional Manager Valerie Mapes, former Prudential Nevada Realty Realtor Keith W. Gledhill, Mortgage Fraudster Reno landlords John and Kay Sickler, Mortgage Fraudster Reno escrow officer Jenna Kay Clark and her company Reno?s First American Title, Reno Realtor Allan Zane and his Broker Magi Bird, and Reno?s First American Title.
http://reno.broowaha.com/article.php?id=3415
http://reno.broowaha.com/article.php?id=3300
http://reno.broowaha.com/article.php?id=3320
http://reno.broowaha.com/article.php?id=3351
http://reno.broowaha.com/article.php?id=3372
http://reno.broowaha.com/article.php?id=3377
http://reno.broowaha.com/article.php?id=3397
http://reno.broowaha.com/article.php?id=3404
http://reno.broowaha.com/article.php?id=3421
http://reno.broowaha.com/article.php?id=3430
http://reno.broowaha.com/article.php?id=3448

For copies of the supporting documents that have been uploaded, see http://renomortgagefraudexposes.ning.com/