Senator Obama Calls For Foreclosure Moratorium
Yesterday, Democratic Presidential Candidate, Senator Barack Obama called for a ninety (90) day moratorium on foreclosures. In my opinion, this is simply more rhetoric from a candidate fishing for votes. He is playing to the media, so they will report to Main Street. Don't get me wrong, I'm not an Obama hater, I just don't like being played by anyone. If you say you are going to do something, then you better be able to do it, or give it one hell of a shot. Don't just say things for the sake of saying them. That ticks me off, and between Senator Obama and Senator McCain, I've been ticked off quite a bit lately.
Quite frankly, this is not even a possibility before the election. If he were somehow able to get a piece of legislation drafted up, Congress is not even in session right now. Therefore, to call for a moratorium, would require the lenders or the securitized trusts to stop going after the collateral that secures their loans. By the way, did I mention that these inidividuals were probably living in their homes for at least 3 to 4 months without paying before the foreclosure process starts.
This post was submitted by Carmen Dellutri, Esq., founder of The Dellutri Law Group, P.A. Currently, the firm has offices in Port Charlotte, Fort Myers, and Naples and has expansion plans for Sarasota. Mr. Dellutri also sits on the Board of American Board of Certification. Mr. Dellutri is also one of the founders of the Bankruptcy Law Network, Debt Law Network, Credit Law Network, and Mortgage Law Network. Mr. Dellutri also writes for the firm's personal injury litigation blog.
