THURSDAY, NOVEMBER 18, 2010
WASHINGTON, Nov. 18, 2010 /PRNewswire-USNewswire/ -- Hundreds of consumer, civil rights, legal services, community and labor groups and private and public interest attorneys representing homeowners, along with the coalition Americans for Financial Reform, urged the Federal Reserve Board to withdraw a proposed rule that would destroy a key legal tool to unwind illegal loans and avoid foreclosure.
"We are astonished that, with the nation facing its greatest foreclosure crisis since the Great Depression, the Board's proposal would eliminate the single most powerful legal tool that homeowners currently have to stop wrongful foreclosures, the federal right to rescind an illegal loan," said Margot Saunders, Counsel to the National Consumer Law Center.
Read more: http://www.sacbee.com/2010/11/18/3195346/fed-proposal-would-eviscerate.html#ixzz15efLUvNr
Posted 11:12 AM
No Comments
Post a Comment |
Required
|
|
Required (Not Displayed)
|
|
Required
|
All comments are moderated and stripped of HTML.
|
|
|
|
|
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only.
It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
in your state. By using this blog site you understand that there is no broker client relationship between
you and the blog and website publisher.
|