Why did Congress just pass a bill making it easier for banks to foreclose?
by Chris in Paris on 10/07/2010 09:06:00 AM
Again, it's more about corporatist policies than Republican or Democrat. Considering all of the abuse in this area, Obama needs to veto this immediately.
A bill that homeowners advocates warn will make it more difficult to challenge improper foreclosure attempts by big mortgage processors is awaiting President Barack Obama's signature after it quietly zoomed through the Senate last week.
The bill, passed without public debate in a way that even surprised its main sponsor, Republican Representative Robert Aderholt, requires courts to accept as valid document notarizations made out of state, making it harder to challenge the authenticity of foreclosure and other legal documents.
The timing raised eyebrows, coming during a rising furor over improper affidavits and other filings in foreclosure actions by large mortgage processors such as GMAC, JPMorgan and Bank of America.