The law is a living, breathing thing.  Or at least that’s what some of our founding forefathers wrote about the Constitution, the legal document for which we Americans hold such high esteem.  As such, it’s constantly changing!  Add to that the fact that foreclosure and real estate law and foreclosure defense is a budding field now, and you have lots of things to try to digest.

The purpose of this section of the blog is to try to synthesize and galvanize both legal developments and arguments that are working in today’s market place, for front line loss mitigation, the courtroom or the state house.  Please feel free to leave a comment, a question or join the discussion!  The more contributions and discussion we have, the more we all collectively benefit.

To get us all started, we’ve included a few links to helpful resources for loan modifications, short sales and other pre-foreclosure work out options. Check these out, then leave a comment or questions in the box below.

  • Making Home Affordable

    This is the site the Treasury Department maintains to provide information and updates on the HAMP loan modification program and the HAFA short sale program, among other things. It serves as a resource for servicers, advocates and consumers.


  • Treasure Handbook v.3.2

    This is THE source for finding the rules for how the HAMP, HAFA, 2MP, UP, deed in lieu and other programs actually work. These rules govern the way servicers process the various loss mitigation options. Be prepared: at almost 200 pages, the Handbook is a looong read!


  • Maryland Website describing foreclosure prevention assistance

    The state of Maryland has been fairly proactive in educating the public in foreclosure prevention. Learn about their efforts here.


  • Maryland website describing two proactive laws (MCSBA and PHIFA) designed to protect homeowners from scam artists

    The Maryland state legislature has enacted two laws in the past few years designed to protect homeowners from aggressive and fraudulent companies who take advantage of those in financial distress. A summary of each of these laws can be found here.


  • Maryland Credit Services Businesses Act and Protection of Homeowners in Foreclosure Act

    To read the text of the specific statutes, click here. MCSBA is codified in the Annotated Code of Maryland, Commercial Law Article, § 14-1901 et seq. PHIFA is codified in the Annotated Code of Maryland, Real Property Article, § 7-301 et seq.


  • Emergency Economic Stabilization Act of 2008

    Congress passed legislation in 2008 to prevent a major international financial disaster. It was known in popular parlance as the “bailout”. Read all about the history and description of it in Wikipedia.


  • TARP

    At the Treasury Department’s urging, Congress allotted a fund to keep liquid the various financial institutions that were most effected by so-called toxic assets. The Troubled Asset Relief Program, or TARP, is that program. Read all about it on Wikipedia here.


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