It is great that people can't be foreclosed on; but what about the other side of the coin? Can people sell their home? Sounds like the entire real-estate market just came to a total halt. Hope it does not go that far.
from what i understand from the florida case, the homeowners can sue to have the home returned , possibly win full payment of home and damages on top of that. from my take on the case jpm was demanding unrealistic things from these homeowners that were over and above. they werent given the alotted time to vacate or the time to make the loan current and just kicked them out. from what i've been reading people who were foreclosed on and were wamu customers now a fraud case with jpm. with jpm not actually owning the property they committed fraud and there is good standing for the home price plus damages to be returned to them also. thats why their saying in the news that this could be a bigger crisis than the stimulus crisis. all foreclosures are at a standstill till someone pays the bill for assuming wamu.
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