Anyone hear about this?

"A New York judge threw out a case against Countrywide Financial by investors who wanted the company to buy back mortgages that it had reduced payments for." The case was thrown out for a procedural rule.

http://www.dsnews.com/articles/judge-throws-out-case-against-countrywide-2010-10-15

Can you imagine if a case like this goes forward? Countrywide/BoA modifies loans to help keep borrowers in them. The investors sue BoA to buy back these loans. BoA wises up AND STOPS MODIFYING LOANS! In fact, why bother with Short Sales if the investors sue you to buy the loans back? Just foreclose if that's all your contract allows you to do.

Jeesh. Investors bought crappy loans and when the servicer tries to negotiate/modify to help the homeowner pay and prevent a foreclosure the investors want them to buy it back? How about they just pass on the non-performing assets?

When are we going to move forward and put people in homes they can afford? I don't mean to be insensitive to folks that are losing homes but how can anyone expect to live somewhere and pay NOTHING?