What Homeowner Relief is Provided Under the Emergency Economic Stabilization Act of 2008?

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The financial crisis of 2008-2009 has led to a sharp increase in home foreclosures, but has also revealed how home mortgages are packaged and sold off to investors, and also resulted in the passage of a federal law known as the “Emergency Economic Stabilization Act of 2008.” Both the new law and the packaging of mortgages for investment provides means for homeowners to negotiate with the holders of their mortgages to modify the terms of their mortgages and save their homes from foreclosure. This article summarizes important parts of the statute, and features of mortgage “securitization”, in order to highlight how both can be used in negotiating mortgage modifications. Click Here to download this article.