posted on Jul, 14 2009 @ 03:56 PM
I don't see how this could be considered a threat to one's liberties.
As it is now, if your home goes into foreclosure, you no longer own your home. Plain and simple. The lien holders of your mortgages own your home at
that point. Once foreclosure proceedings take place, your time occupying that home owned by mortgage companies or banks is on borrowed time. They will
ultimately evict you as soon as they legally can. (And after the sale of your home for pennies on the dollar, still bill you for the difference
between the amount owed and the dollar amount of the final sale + fees + interest.)
What is being suggested by this is that mortgage companies and banks can no longer forcibly evict the previous homeowner who has gone into
foreclosure, but for a period of time, must treat the occupants as tenants. The mortgage companies and banks still own the house which has been
foreclosed by default, but they cannot forcibly evict the occupant if they continue to make payments. This also protects occupants who are renting a
home from a home owner who has chosen to pocket that money rather than make payments on the property mortgage that he is subletting or renting out.
To me, this sounds like a very good idea.
Foreclosure rates are at an all time high. Not everyone who has had their home foreclosed is at fault for being economically negligent. Likewise, not
every family that has been evicted because of a foreclosure was the one who defaulted on the house payments (it happens to far more renters than you
might like to think). Even families that keep $0 Debt other than their Mortgage, live within their means, and have Saving Reserves for 6-12 months can
face hard times when mass layoffs happen during a time of economic depression when there are no other jobs to be had for periods longer than a year.
Even those who swallow their pride to work flipping burgers at McDs to try and keep their family afloat can't afford their mortgage on those wages
which keep them below the Federal Poverty level. In most areas of the country, even at the Median Average Salary of $35,000 is not enough to afford
house payments on the Median Average Home of $225,000. Don't point fingers at those who can't make ends meet during these tough economic times, just
because you are fortunate enough to do so yourself.
Most importantly, the first plan that is mentioned is not a form of Federal Assistance or Welfare. It appears to be simply a change in the law that
prevents families from being forcibly evicted after a Foreclosure, giving displaced home owners (or renters) the same protection from the Banks and
Mortgage Companies that renters normally enjoy when renting from any other private party. Although the second suggestion, of subsidizing unemployed
home owners just as we subsidize housing for unemployed renters, would be a for of Federal Assistance or Welfare. In either case, the government would
not be your landlord...the Banks and Mortgage Companies would.
[edit on 14-7-2009 by fraterormus]