Assembly Bill Aims To Help Foreclosure Victims

February 7th, 2008

The incident of Kwaku Atta Poku has triggered waves although this man from Columbia did not manage to keep his house. But it brought to focus the issue and a General Assembly bill is trying to give others like him a better legal chance to keep the property.

Elizabeth Bobo, a Democrat from Del. sounded concerned that Poku never got a chance to make out his case. If this was not injustice then what is? She represents that area of Columbia from where Poku hails.

Poku refinanced his house in 2001 but in 2005 he lost it to foreclosure and was evicted in August 2006. He lost many appeals made at court because of technical flaws. Bobo’s bill that was introduced the previous week supported by dozen other co-sponsors uses the name of Poku for the title although he has not been tangibly helped.

The bill is aimed to lower the bond amount required to stay a foreclosure while being appealed against. It would also ban the dismissal of appeals in the Circuit Court except under specified unambiguous conditions. Till now the bond amount is equivalent to the value of the house – something impossible for the victims to procure.

The General Assembly is thinking of whole lot of bills aimed at protecting the house owners from foreclosures. It could not have earlier as the numbers are rising at an alarming rate right across the country. Prominent citizens like Phillip Robinson who is the executive director of Civil Justice Inc. and member of Maryland Homeownership Preservation Task Force feel that the house owners will greatly profit from these measures. It will reduce the bond amount to affordable levels and give a clear road map for the Circuit Court to follow as regards appeals. Also supporting the measures are Jeanne N. Ketley, president of the Maryland Homeowners’s Association. It will plug the loopholes in the law.

Poku practically had no chance of redress as his house was sold off twice after his eviction. As he did not procure the requisite bond amount the ruling of the Court of Special Appeals went against him. Now he has no hope of even reclaiming damages although everybody understands his plight. Poku is a worried man as he operates his taxi and sedan service. After the holiday season business is slack and he has many bills yet to be paid. But he has not lost hope in the law.