A lot of families have already faced foreclosure, more especially in Ohio, wherein it has been epidemic. However, the strong words of a Democratic congresswoman there named Marcy Kaptur encourages troubled homeowners to stay in their homes and squat as a radical foreclosure solution.

Democratic Congresswoman, Marcy Kaptur

This radical woman criticizes the failure of the bailout plan to serve its goal, which is protecting homeowners from foreclosure. Her idea is an exploitation of a legal technicality in the subprime-mortgage crisis for these mortgages are just bundled into securities and resold by Wall Street banks that now benefit from the Troubled Asset Relief Program (TARP).

A lot of foreclosed homes without locating actual loan notes so homeowners must demand for it and take hold of their property until their banks are able to provide the deed. Distressed homeowners have to get legal representation and fight for the possession of their homes. Calling the Legal Aid Society bar Association could be of great help too.

The act of physically evicting homeowners from their homes is the duty of a sheriff. However, Kaptur finds reaching that point impossible.

It is TARP’s aim to reduce foreclosures so denying foreclosed homeowners the chance to get federal assistance is actually violating the law.

With all of the foreclosure issues going on, Bruce Marks from the Neighborhood Assistance Corporation of America has stepped up to take the fight to the banks’ CEOs. Now, NACA is working with Fannie Mae to come up with new mortgage structures. Another move is a three-day “Predator’s Tour”, which demands meetings with bank CEOs.

The flood of oreclosures has been making the government more aggressive in doing foreclosure prevention actions. In fact, before the inauguration, the National Economic Council’s chair Larry Summers have promised to implement bright and aggressive policies to prevent foreclosures by helping in the reduction of mortgage payments, reforming bankruptcy, and strengthening housing initiatives.