Thank you to all who attended our course, Discovering the Home Inspection, last evening. Here, as promised you can find the Home Schematic thanks to Housemaster.
Friday, June 25, 2010
Tuesday, June 22, 2010
I posted yesterday about my story from a Foreclosure Settlement Conference where the Referee wanted to learn more about the safe harbor for servicers that protects servicers from liability to investors when they participate in HAMP regardless of the investors desires. Since my post, I have received some questions on the topic and feel that reading the congressional findings may help the reader to understand my position.
Congressional Findings
Servicer safe harbor for mortgage loan modifications; congressional findings. Act May 20, 2009, P.L. 111-22, Div A, Title II, § 201(a), 123 Stat. 1638, provides:
"Congress finds the following:
"(1) Increasing numbers of mortgage foreclosures are not only depriving many Americans of their homes, but are also destabilizing property values and negatively affecting State and local economies as well as the national economy.
"(2) In order to reduce the number of foreclosures and to stabilize property values, local economies, and the national economy, servicers must be given--
"(A) authorization to--
"(i) modify mortgage loans and engage in other loss mitigation activities consistent with applicable guidelines issued by the Secretary of the Treasury or his designee under the Emergency Economic Stabilization Act of 2008 [Div A of Act Oct. 3, 2008, P.L. 110-343]; and
"(ii) refinance mortgage loans under the Hope for Homeowners program; and
"(B) a safe harbor to enable such servicers to exercise these authorities.".
Congressional Findings
Servicer safe harbor for mortgage loan modifications; congressional findings. Act May 20, 2009, P.L. 111-22, Div A, Title II, § 201(a), 123 Stat. 1638, provides:
"Congress finds the following:
"(1) Increasing numbers of mortgage foreclosures are not only depriving many Americans of their homes, but are also destabilizing property values and negatively affecting State and local economies as well as the national economy.
"(2) In order to reduce the number of foreclosures and to stabilize property values, local economies, and the national economy, servicers must be given--
"(A) authorization to--
"(i) modify mortgage loans and engage in other loss mitigation activities consistent with applicable guidelines issued by the Secretary of the Treasury or his designee under the Emergency Economic Stabilization Act of 2008 [Div A of Act Oct. 3, 2008, P.L. 110-343]; and
"(ii) refinance mortgage loans under the Hope for Homeowners program; and
"(B) a safe harbor to enable such servicers to exercise these authorities.".
Yesterday Newsday ran an article about issues with fences in Southampton, which can be found by clicking here. While I found the entire article an interesting read, the part of the article that cought my eye was the definition of front yard and rear yard used by the Town. Specifically, the front yard faces the water if the house is on a pond, lake or bay. Yet, if the house is on the Ocean, the rear yard faces the water. Talk about crazy. The point is that a person interested in looking up anything in a law and more specifically in a Town Code must always look to the definitions and not assume that a provision applies until a complete understanding of the terms is achieved. Navigate carefully my friends.
