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Local Legislator Tackles Foreclosure and Bank Owned Auctions Issues

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By : John Cutts    99 or more times read
Problems related to foreclosures, distressed properties and bank owned auctions are not new to Baltimore, Maryland Representative Elijah E. Cummings. The legislator has faced the same problems that troubled homeowners have faced over 10 years ago when he fell behind in his mortgage payments.

The congressman is one of the biggest supporters of owners of Baltimore bank owned homes and has lobbied in favor of homeowners all throughout the foreclosure crisis period. The recent controversy surrounding mortgage firms that prompted nationwide foreclosure moratorium has made the legislator even more passionate about protecting homeowners.

According to some local market analysts, the issue of Maryland bank owned homes is not just political for Cummings, but also personal. One year after entering Congress in 1996, Cummings fell behind in paying for his house in West Baltimore and after six months of delayed payment, a foreclosure proceeding was started against the congressman.

Although he has been one of the staunchest supporters of bank owned home owners, Cummings is reportedly reluctant to discuss the personal experience. The legislator was able to pay over $5,000 of the money that he owned to his lender and was able to keep his property, with the experience obviously making him more interested in the issue of homeownership.

Cummings has clarified though, that his personal experience and his support for homeowners facing possible loss of properties to foreclosures and bank owned auctions are two different things. He stated that the time and the circumstances are different between his personal foreclosure experience and the current status of the housing market.

However, most political analysts believe that the experience makes Cummings the best person to understand what it is like for homeowners to face such a problem. He has been applauded by local housing market and political analysts for his involvement in the issue. Cummings has hosted several workshops focusing on preventing foreclosures and retaining properties for years.

The latest controversies concerning rushed processing of foreclosures, alleged faulty affidavits and supposedly questionable evictions of homeowners have made the congressman even more determined to help troubled property owners. He has reportedly expressed anger over the possibility that families are being evicted from their homes, with their properties ending in bank owned home without the assurance of proper procedures.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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