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Politics : View from the Center and Left
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To: Bread Upon The Water who wrote (112013)5/27/2009 11:12:38 AM
From: Cogito  Read Replies (1) of 541741
 
>>Now IF as part of the foreclosure process the purchaser of the foreclosed property AGREES to the new notification terms in order to get Federal guarantees on the financing etc. or as some new condition of the bank loan, that MAY BE how the the constitutional requirements are bypassed.<<

Vinter -

I see your point about matters that are left to the states. So the constitutionality of the move could be questioned on that basis. Like you, I'm not sure what the answer to that question would be. Clearly, if the purchaser of the property wants a federal loan, then the federal government has the right to place conditions on the transaction.

But again, since the purchaser of the foreclosed property is not a party to the original loan agreement, this is not an example of a contract being changed by an outside party after the fact. That's the point I was trying to make.

- Allen
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