Hello all,
First let me say once again, many thanks to all who post here and share their experience, wisdom and knowledge. The information available is priceless!
While stumbling about the net, I ran across a blog that led me to this:
sb531.html
An interesting (IMHO) highlight, regarding the notice that must be sent to the homeowner/borrower at least 30 days before:
"Such notice shall be in writing, shall include the name, address, and telephone number of the individual or entity who shall have full authority to negotiate, amend, and modify all terms of the mortgage with the debtor,"
Maybe this verbage was present before and I just don't remember it, but I don't think so.
Now I'm not a lawyer (nor do I play one on TV), but the way I interpret this is that maybe Georgia legislators have heard too many complaints from their constituents about how hard it is to talk to someone who can actually make a decision concerning modifications on their loan. And if I'm reading this right, could this be used as a defense against the foreclosure proceeding? A recorded conversation with the negotiator when they say "I don't have the authority" or "I'll have to contact the investor, we're just the servicer" could maybe be used to claim that you were not provided with the information required by law. I'd be interested to hear what folks in this forum think...
Anyway, I hope this is of some use or at least of some interest to the participants here. This is a great forum!
GK
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