Here is a proposed solution for homeowners facing foreclosure in the non-judicial foreclosure states, such as California, Nevada, New Mexico, Massachusetts, New Hampshire, where the bank does not go into court to foreclose. My group lawsuit, to have aggrieved homeowners gang up on the errant banks (and provide an extra bang for the homeowner's buck), gives aggrieved homeowners access to the courts to fight foreclosure by reducing the costs of access (including the dollar costs and attorney time charges per homeowner); it creates a greater probability that some of the banks would rather give a modification agreement than remain in the huge lawsuit; it gives a vehicle for aggrieved homeowners to get massive publicity about their plight; and it may bring to the attention of state legislators that the state should adopt foreclosure statutes similar to New York State as a way of reducing the impact of the banks predatory activities and preventing the banks (in many cases) from obtaining the full amount of their usurious interest and fees. cepersvid-34 9:58
Foreclosure.com recently awarded five college (bound) students with scholarships totaling 00 during a recent essay contest that asked for solutions on "How to solve the foreclosure crisis." Andrew Dewar — a senior at Kennesaw State University located in Kennesaw, Ga., who majors in veterinary medicine — was our grand prize winner. His essay was selected by our expert foreclosure panel as the best out of more than 1200 submissions. Below is an interview with our happy foreclosure of a dream winner — 00! To read Andrew's essay, as well as the others from our four semifinalists (who each received 00 scholarships) please visit the Foreclosure.com scholarship page right here: www.foreclosure.com