When the government announced in November that it would use mortgage giants Fannie Mae and Freddie Mac to streamline loan modifications for possibly hundreds of thousands of borrowers, officials billed the idea as a fast-track program to fight foreclosures. What no one mentioned is that homeowners would have to sign away their rights to sue, if they wanted to get those loans modified. Full Story »
Posted by Derek Hawkins
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This is a very important story that's pretty responsibly reported by Washington Independent. They could have tried harder to get another voice defending the waver which would have made the piece a little more even-handed.
It points to one more difficulty homeowners dealing with threatened foreclosure face, one that indicates continued reluctance to provide real help. However, I think that requiring people to sign away legal rights is not unique to this situation?? Haven't there been issues around this in claims against brokerage firms who steer people to inappropriate investments?
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