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Fed Reverses Course On Proposal That Would Have Pulled Rug Out From Under Homeowners Invoking TILA To Undo Bad Mortgage Loans

By r morris

Reuters reports:The Federal Reserve said on Tuesday it is backing away from a final rule impacting home foreclosures after consumer advocates said the reform would remove incentives to modify troubled loans. The Fed said it will instead leave the issue for the new Consumer Financial Protection Bureau.The Fed proposal would have made changes to the process where a borrower can seek to cancel a

Full post as published by The Home Equity Theft Reporter on February 03, 2011 (boomark / email).