I need to find the copy of the bill again to refresh my memory but as I recall, there is little in the way of final recourse for the homeowner and could very well result in a legal way to take over more property. This issue becomes more apparent in the final portion of the bill but I remember the wording to limit recourse was very subtle.
We have been a bit busy down here dealing with the illegal immigration issue and Hensarling’s bill seemed to slip under the radar. The concept may be good but the devil is in the details. Particularly troublesome because Hensarling is from Texas.
Thanks.