Representative in US Congress Marcy Kaptur (D)Toledo, says the federal government is failing to help homeowners facing foreclosure and if you are faced with forclosure, don't give up your home without a fight. Become a squatter and possession is 9/10ths of the law (the other 10th presumably being the Fulton County Sheriff). I suppose this is as good advice as any, it might pay off depending on future legislation and definitely can't hurt.

Note to Marcie - Would have been better if your party wouldn't have caused the problem in the first place.


Kaptur on House Floor (video)
So I say to the American people, stay in your homes. You have earned them. And don't you get out until you get a really good lawyer who can find your mortgage up there on Wall Street. Because, you know what? They won't be able to find it, and therefore they can't prove you should be evicted.

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More informaton:
Last October, the Federal Housing Administration launched the Hope for Homeowners program to help underwater homeowners refinance. But mere hundreds of homeowners have been helped, and few lenders have climbed aboard.
In November, federal agencies and the Hope Now coalition (made up of 27 lenders and nonprofit consumer organizations) announced a program to bring "affordable" loan payments to borrowers who live in their homes, have missed three or more payments and haven't filed for bankruptcy. Any reduction in principal on the front end of the loan modification would be paid at the end of the loan.
Major retail banks, such as Bank of America (which bought Countrywide), JPMorgan Chase (which bought Washington Mutual and EMC) and Citi, have announced their own programs, and so has the Federal Deposit Insurance Corp. (for IndyMac borrowers). All of them are aimed at homeowners who are already in trouble or may soon be, as long as the home is their primary residence. All told, it's estimated the programs might reach out to more than a million homeowners. And FDIC chairwoman Sheila Bair has proposed implementing more widely her agency's model of loan modification.
One FHA refinancing program that has enjoyed reasonable success is FHASecure, which has helped more than 460,000 homeowners since the fall of 2007. In early December, Fannie Mae announced more good news for homeowners: It would direct its loan servicers to help borrowers as soon as they demonstrate the need for help, even before they're delinquent.

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