Wednesday, February 1, 2012

Your Action Needed! Important Foreclosure Bill Up Today! (Wednesday, February 1st)


My house bills to help protect homeowners going through the foreclosure or loan modifications processes  will be heard TODAY, February 1, 2012 in the House Courts of Justice Civil Laws Subcommittee.  The committee will meet 1/2 hour after the adjournment of the House in House Room 1 of the Capitol.  Please contact the members of subcommittee (see below) and ask them to support this important legislation.   
HB 28 will increase the time given to homeowners when the bank intends to foreclose from 15 days to 45 days and would require banks to file a sale of the deed of trust or mortgage with the locality in which the sale occurs rather than through the private bank owned database called Mortgage Electronic Registration System (MERS).   Allowing banks to file these transactions with MERS has resulted in a loss of tax income for the state and a large number of homeowners who are unable to prove who is the owner of their mortgage. 
HB 821 creates a civil cause of action for the homeowners against any person who wrongfully asserts that he is, or has the authority to act as, the holder of the obligation secured by a deed of trust or mortgage and who wrongfully initiates any foreclosure proceeding upon their property.   This has happened over and over as a result of the previously mentioned use of MERS to record sales and it must be stopped.   
HB 822 will keep a bank from foreclosing on a home if the homeowner has submitted an application for a mortgage modification until such time as the application is denied or the borrower has defaulted under the terms of the modification. It will also require banks to notify the homeowner of any denial of an application for modification and the reasons within 30 days of their receipt of the application. 
Thank you for your support! 
Delegate Bob Marshall 
Courts of Justice Civil Subcommittee 
Chairman Sal Iaquinto                804-698-1084 
Delegate Terry Kilgore                        804-698-1001 
Delegate Manoli Loupassi         804-698-1068 
Delegate Gregory Habeeb                 804-698-1008 
Delegate Peter Farrell                         804-698-1056 
Delegate Randy Minchew          804-698-1010 
Delegate Joe Johnson                        804-698-1004 
Delegate David Toscano            804-698-1057 

Delegate Jennifer McClellan        804-698-1071 

Contact Information:
703-361-5416 (office and fax)
703-853-4213 (cell) (preferred)
Mailing address:
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Manassas, VA 20108

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