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Originally Posted by Praxeas
Just curious, since you read this and are being the Apologist for Obama and the Democratic party, explain how this bill makes it more difficult to challenge unjustified foreclosure auctions and please specify the part of the bill that addresses unjustified foreclosure auctions
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The article states that this bill, the Interstate Recognition of Notarizations Act, would protect banks and mortgage processors from liability for improperly prepared foreclosure documents.
It doesn't seem major at first, but what the President did by refusing to sign this bill helps the homeowner.
Apparently, many of the notarizations on the foreclosure papers of many homes were printed en masse, by computer, in an effort to "expedite" the foreclosure process.
One of the main roles of a notary is to personally review the documents being notarized. This has not been happening.
Further, the requirements for notarization may differ from state to state. The President's refusal to sign this bill forces banks and businesses to "do right" by their customers, according to the laws and regulations of each of their customers' individual home states.
This is a victory for Joe Average, whose home may be in foreclosure. It keeps the banks from simply running roughshod over customers who have fallen behind on their mortgages.
At a time where banks and mortgage lenders are being investigated for fraud and other possible crimes against their own customers, the President stopped a bill that could have protected the banks and mortgage lenders who may have carried out foreclosures on Americans all across the country in an "one-size-fits-all" manner, without regard to the rights and protections granted to the homeowner by their individual states.
This is a small victory for "States' Rights" and a huge victory for the individual American.
GOD BLESS THE USA!
GOD BLESS THE PRESIDENT!
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