Supreme Court SIdes with lenders and mortgage companies over homeowners!

It's hard for anyone to argue that the cards and country are in fact stacked against the people and homeowners, when the Supreme court makes a point to give even more protection to these same lenders and mortgage companies while not protecting homeowners at all!  At what point do the people who work so hard to get into their homes, keep them up, and make them a home, get the protection and laws on their side? 

The article, found here: supreme court ruling,  Outlines what this ruling means for homeowners, with a big hoorah from the predatory lenders and mortgage companies, while paving the way to destroy the lives and credit of hardworking American families and adding to the already expanding homeless crisis. 

Law firms, mortgage lenders and servicers were just awarded more protection in serving non-judicial foreclosures, according to a recent Supreme Court ruling.

The ruling is a victory for the mortgage industry in its fight to retrieve property from delinquent homeowners. One attorney claims the ruling may eliminate thousands of similar homeowner lawsuits.

In the case of the Obduskey v. McCarthy & Holthus decision from earlier today, the homeowner tried to fight his non-judicial foreclosure in Colorado.

Each state differs in foreclosure requirements, but generally fit into two category: foreclosures that get to be decided by the courts or foreclosures that are not — a non-judicial foreclosure. Colorado is a non-judicial foreclosure state.

Homeowner Dennis Obduskey alleged that once he received a foreclosure notice from law firm McCarthy & Holthus, he invoked protection under the federal Fair Debt Collection Practices Act.

This act protects consumers and maintains that: "a 'debt collector' must 'cease collection' until it 'obtains verification of the debt' and mails a copy to the debtor," the Supreme Court ruling states.

However, McCarthy & Holthus is not a debt collector by definition, as it only pursues non-judicial foreclosures, the Court ruled.

From the ruling:

Obduskey argues that McCarthy engaged in more than security-interest enforcement by sending notices that any ordinary homeowner would understand as an attempt to collect a debt. Here, however, the notices sent by McCarthy were antecedent steps required under state law to enforce a security interest, and the Act’s (partial) exclusion of “the enforcement of security interests” must also exclude the legal means required to do so.

"This decision essentially gives law firms and lenders more protection in non-judicial foreclosure states,” said David Scheffel, partner at law firm Dorsey & Whitney.

“In these jurisdictions, homeowners and borrowers will no longer be able to file lawsuits under the Fair Debt Collection Practices Act (FDCPA) against law firms who are pursuing foreclosures,” he added.

“This essentially eliminates a heavily used practice by plaintiffs' attorneys," Scheffel added. "Ultimately, this should have the effect of reducing the cost that lenders/servicers [bear] in terms of getting to a final foreclosure in these states as the FDCPA lawsuits delay this process significantly. At the end of the day, this decision will eliminate thousands of these lawsuits in non-judicial foreclosure states like Massachusetts, California, Colorado, and Minnesota.” 

That there isn't more of an up rise over this, tells me that either homeowners are just exhausted from the country working against them while spending millions if not billions on wars and their political agenda, or that they just know there is no hope and give up. Veterans, with secure VA and FHA loans are a big part of those impacted by this decision, and definitely deserve better, though every family and individual in this country should have a safe and stable roof over their heads!