- If similar legislation was inacted in the state in which you do business, how would this effect your business & profits?

The legislation would be retroactive to Jan. 1, sparing many of those who lost their homes to foreclosure this year from a surprise tax bill if their mortgage was canceled.

MONTGOMERY COUNTYGaithersburg Man Admits to Equity-Skimming ScamBy Ernesto LondoñoWashington Post Staff WriterSunday, August 19, 2007; Page C13Maryland legislators tweaked the state's real estate laws in 2005 in an effort to protect people at risk of losing their homes, saying fraud and abuse in foreclosure transactions had become widespread.

Not sure how constitutional it would be to outlaw two perfectly legal business contracts, a lease and an option, just because both were between the same parties.But remember this is the same legislature who tried to put through the "dirty cheerleading" bill and did pass the legislation to put in effect the largest steroid testing operation in the world!

It just bothers me that a few people do things unethically and create a 'cause' for legislation that affects everyone.

I think legislators will probably require consumers to qualify at the highest rate of the adjustable product (piti).

(Also new legislation may help as well I need to read up on that).

Legislation has proposed lots of resolutions but none of them seem to go through.

Most of them don’t even have a clue about the long-term ramifications of the legislation that they enact.Overall, our economy is very resilient and will come through this.

Yes, I changed my business model based on SAFE Act legislation and it's ripple effects on my state's foreclosure laws (and documentation, workout requirements, etc.)