Video & Transcript Research : 'foreclosure surplus'

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MN

Minnesota 2025-2026 Regular Session

Committee on Commerce and Consumer Protection - 04/10/25

Commerce and Consumer Protection

Transcript Highlights:
  • Uh, this amendment deals with surplus lines as well as the fair plan and how they fit together.
  • this amendment deals with surplus lines this amendment deals with surplus lines as<00:09:46.800>
  • Senator Seeberger, like yourself, I took a crash course in surplus lines over the last week.
  • Uh and right now the surplus market.
  • without uh incentives, the surplus without uh incentives, the surplus market<00:12:47.120> is
Keywords: 1187, senate, all
HI

Hawaii 2025 Regular Session

HOU Public Hearing 01-28-2025

Housing

Transcript Highlights:
  • <00:10:14.040> to required to use all Financial Surplus to required to use all Financial Surplus
  • For example, how would we monitor that funds that are, or financial surplus derived from our project,
  • <00:10:43.440> into reinvesting financial Surplus into reinvesting financial Surplus into
  • could be ensured that Financial Surplus could be ensured that Financial Surplus would<00:11:28.160
  • Surplus Surplus um<00:33:07.360> and<00:33:07.559> we'll<00:33:07.840> also<00:
Keywords: 912, senate, all
Summary: The committee heard testimony on a series of housing measures focused on streamlining approvals, reshaping financing programs, and expanding affordability requirements. SB 27 would exempt state-financed housing developments from County Council approval; SB 38 would bar county legislative bodies from changing housing proposals in ways that increase project costs; SB 25 would let counties reduce housing capacity in one area only if they offset it elsewhere with no net loss; and SB 379 would require perpetual affordability covenants for HHFDC projects and prohibit affordable housing in special flood hazard areas. SB 378 would create an HHFDC working group to identify mixed-use Maui properties for possible acquisition, SB 414 would authorize condemnation proceedings for a new Lānaʻi access road tied to disaster recovery, and SB 13 would eliminate the state income tax mortgage interest deduction for second homes. Testimony was mixed across the bills, with state agencies and housing advocates generally supporting faster permitting and more production, while county planners, NAIOP, Catholic Charities, and others raised concerns about local control, marketability, financing feasibility, and long-term affordability enforcement. A major portion of the hearing centered on the rental housing revolving fund. SB 70 would limit eligible applicants to government agencies or organizations that reinvest all surplus into additional housing; HHFDC said most developers would not object in principle but questioned how the surplus requirement would be enforced, while NAIOP and Catholic Charities opposed it as too restrictive and difficult to monitor. SB 71 would amend the fund’s preference criteria and eligibility rules, and SB 163 would require HHFDC to prioritize projects with the shortest repayment terms and highest unit production per dollar per year. HHFDC and some advocates supported the goal of faster recycling of funds, but NAIOP and Catholic Charities warned that shorter loan terms and narrowed preferences could burden developers and disincentivize projects, especially for lower-income tenants. The chair indicated SB 163 would be deferred and its concerns folded into amendments to SB 71. In decision-making, the committee voted to pass SB 27, SB 38, SB 70, and SB 71 with amendments, and SB 25 unamended. The chair said SB 27 would be amended to include projects with a state financing commitment and a report note that such projects still undergo 21-38 review; SB 38 would receive technical changes and language preventing county bodies from imposing cost-increasing conditions; SB 70 would add language addressing enforcement of the surplus requirement and a preamble citing the need to recycle taxpayer-financed housing value; and SB 71 would be amended to incorporate concerns raised in SB 163, including a broader preamble and revised priority criteria. SB 163 was deferred, while the other measures on the agenda were heard but no final action was described in the transcript excerpt.
NH

New Hampshire 2025 Regular Session

House Finance Division II (03/25/2025)

Transcript Highlights:
  • Surplus hasn't been spent, and here this is referring to a surplus.
  • Those surplus statements are a schedule of undesignated surplus.
  • statement we don't do a you a surplus statement we don't do a surplus<01:02:06.079> statement
  • <01:02:29.440> statement on the highway fund Surplus statement on the highway fund Surplus
  • you won't see it on the Surplus you won't see it on the Surplus statement<01:21:39.159> again
Keywords: 928, house, all
Summary: The committee first heard Representative Sweeney present and defend the budget amendment legalizing video lottery terminals (VLTs) and setting a 30% tax rate, with 65% of the tax going to the state and 35% to charities. He argued the lower rate was needed to encourage operators of historic horse racing (HHR) machines to convert to VLTs, saying the higher 45% rate would discourage adoption. He walked through revenue projections for fiscal years 2026 and 2027, estimating significant increases in state and charity revenue as machines transition over time, and said the amendment was designed to expand charitable gaming revenue overall. Several members questioned the assumptions behind his projections and the basis for his analysis, including why his independent research differed from the governor’s and Lottery Commission’s estimates. Sweeney said his figures were based on research into other states and conversations over many years, and he maintained that a 45% tax would likely result in no VLT adoption. Members also debated whether the transition costs for operators would be quickly recouped and whether the state’s share should be larger. One member emphasized that the committee was effectively choosing between a lower operator share and a higher state share, while Sweeney argued the 30% structure would produce revenue for everyone. The committee then moved to other revenue items on the tracking sheet. It voted 7-0 to accept the Lottery Commission’s revised base revenue estimates. Members also discussed an amendment to repeal the local option requirement for Kino games, which would expand Kino availability and was estimated to generate additional lottery profit in fiscal years 2026 and 2027. That amendment drew opposition from members who said local control was an important part of the original Kino policy and that removing it would override municipal decisions. The committee also noted that the VLT/HHR revenue item had already been adopted and was being revisited only to confirm the associated revenue estimates.
FL

Florida 2025 Regular Session

March 4, 2025 - 01:30 PM

Transcript Highlights:
  • Okay, well then, Representative Nixon, the surplus property section of this bill would treat surplus
  • Okay, well, then Representative Nixon, the surplus property section of this bill would treat surplus
  • So, yes, surplus property, when it is sold, possession is transferred.
  • I have a question in regards to the surplus property and everything.
  • Well, that property has been designated surplus by the Department of Education.
Summary: The committee first took up PCS for HB 123, which would change the process for converting a public school to a charter school by requiring approval from a majority of parents at the school, allow municipalities to apply to convert certain schools under limited circumstances, and address surplus school property in districts with declining enrollment. The sponsor said the bill is meant to give parents the primary say and to prevent districts from holding unused property. Opponents, including the Florida PTA, several members, and public speakers, argued the bill excludes teachers, school boards, and other stakeholders, could disenfranchise parents who do not live in the municipality, and could create enrollment, transportation, and equity problems. After debate, the bill passed 13-5 and was reported favorably. The committee then heard HB 597 on diabetes management in schools. The bill would allow school districts and charter schools to procure and store glucagon pens for emergency treatment of severe hypoglycemia, permit trained personnel to administer them, require 911 to be called after use, and add limited liability protections. The sponsor said the medication is inexpensive and could save lives for the roughly 7,000 diabetic K-12 students in Florida. An amendment clarified that public and charter schools are both covered. The bill drew support from the American Diabetes Association, the American Academy of Pediatrics, and the Florida PTA, and members from both parties praised the measure. It passed unanimously and was reported favorably. Finally, the committee heard HB 85 on hazardous walking conditions, which would add walking along freeways, expressways, and their ramps as a hazardous condition requiring bus service for elementary students within two miles of school. The sponsor described personal examples of children walking near dangerous roads and said the bill is intended to prevent injuries and deaths. An amendment narrowed the language by deleting “state highway.” Public testimony included a parent who described her child being hit by a car and urged broader coverage, while members raised concerns about bus shortages and fiscal impact. Most members spoke in support, emphasizing student safety, and the bill was reported favorably after debate.
KY
Transcript Highlights:
  • fund surplus expenditure plan.
  • Now, the use of the surplus.
  • So, there's a $38 million revenue surplus, but a $61 million road fund surplus.
  • Now, the use of the surplus.
  • So, there's a $38 million revenue surplus, but a $61 million road fund surplus.
Summary: The committee first established a quorum, approved the July minutes, and recognized Jennifer Hayes of the Department of State Budget Director for her retirement and long service. Secretary Hicks then presented a review of fiscal year 2025 closeout for the general fund and road fund, explaining that the general fund ended with a $313 million surplus and the road fund with a $61 million surplus. He attributed the general fund result to strong corporate income and LLC tax receipts, investment income, and lower-than-budgeted spending, while noting that individual income tax and sales tax underperformed estimates. He also described how the general fund surplus was allocated, with $62 million used for necessary government expenses and $251 million deposited into the budget reserve trust fund, which remained at historically strong levels. For the road fund, he said the surplus would be deposited into the Department of Highways construction account, and he highlighted record motor vehicle usage tax receipts despite lower motor fuels tax revenue due to a rate decline. Members asked questions about the pass-through entity tax, delayed filing deadlines, THC beverage sales, and income tax collection from undocumented workers. Hicks said the pass-through entity tax remains difficult to model because of timing issues and the first year’s unusual filing pattern, and that staff are still working with the Department of Revenue and other states to improve forecasting. He said the delayed filing deadline likely would not require a major restatement and that any related receipts would still be counted in fiscal 2026. On THC beverages, he said the issue would be considered in the next forecasting cycle. On the undocumented-worker question, he said withholding may capture some of the revenue but referred broader collection efforts to the Department of Revenue. The committee then shifted to an overview of the federal reconciliation act’s potential impact on the next biennial budget, with Hicks and Commissioner Lisa Dennis focusing on Medicaid and SNAP. Hicks said the Congressional Budget Office estimated roughly $900 billion in federal savings over 10 years, driven in part by work or community engagement requirements for the Medicaid expansion population and limits on state-directed payments. He emphasized that CMS still must issue regulations to define how the state-directed payment reductions will be calculated, making the exact fiscal impact uncertain. He referred members to a prior Medicaid Oversight Advisory Board presentation for more detail, and the discussion remained informational with no votes or formal actions taken on the federal changes.
MN

Minnesota 2025-2026 Regular Session

House Republican Media Availability 3/17/25

Minnesota House Floor Meeting

Transcript Highlights:
  • We are hoping that our Democrat colleagues would join us in helping to return any potential future surplus
  • That's House File 4, and that would propose a constitutional amendment that if our surplus after the
  • why we've brought that forward, but when you look at over the last two years with an $18 billion surplus
  • back into the potential future Surplus back into the hands<00:01:28.400> of<00:01:28.560>
  • after the forast would be if our Surplus after the forast would be 105%<00:01:41.000> more<00
Keywords: 1183, house
VT

Vermont 2025-2026 Regular Session

Senate Session - 2026-04-30 - 11:00AM

Vermont Senate Floor Meeting

Transcript Highlights:
  • pilot special fund running a surplus. pilot special fund running a surplus.
  • more money on the table in that surplus more money on the table in that surplus with<01:00:27.200
  • to have an $18 million surplus to have an $18 million surplus in<01:01:35.880> that<01:01
  • back below that $18 surplus. back below that $18 surplus.
  • changes that caused the surplus to grow. changes that caused the surplus to grow.
Keywords: 927, senate, all
OK

Oklahoma 2026 Regular Session

Senate Legislative Session Mar 26th, 2026 at 12:10 pm

Oklahoma Senate Floor Meeting

Transcript Highlights:
  • Follow-up language simply requires lien holders to also be notified of a lien on a property before any foreclosure
  • up: Language simply requires lien holders to also be notified of a lien on a property before any foreclosure
NM

New Mexico 2026 Regular Session

House - Appropriations and Finance Jan 23rd, 2026 at 12:42 pm

House Appropriations & Finance

Transcript Highlights:
  • In the Second District and the 13th District also have a foreclosure mediation program that has actually
  • I used to do that way back when; it greatly helped in foreclosure cases and got those to finality much
Keywords: 996, all
Summary: The committee first heard an Aging and Long-Term Services Department budget presentation comparing the LFC and executive recommendations. The main differences were in the Aging Network, Adult Protective Services, Program Support, and Long-Term Care Division, especially the executive’s proposed $10 million infusion into the Kiki Savadra Senior Dignity Fund and $6.2 million for expanding New Mexico Care. LFC staff explained that the committee recommendation was lower in general fund and fund-balance use, while the executive emphasized rising senior population needs, meal and transportation costs, and the cost savings of keeping older adults at home. The secretary also reviewed the department’s special requests, including the conference on aging, outreach, emergency preparedness, and the Kiki fund, and described New Mexico Care’s growth, its evaluation results, and the department’s plan to separate Kiki into its own accounting fund. Members largely focused on senior services, rural meal delivery, transportation, caregiver support, and the Kiki fund. Several members urged stronger support for non-metro aging providers and for New Mexico Care, citing its role in keeping seniors out of nursing homes and the program’s reported savings and outcomes. Questions also covered eligibility, background checks for caregivers, respite care, dementia and Alzheimer’s screening, and whether Kiki funds can support home modifications such as ramps. The committee then voted to adopt the LFC recommendation with one executive language change: adding the executive’s page 14 language allowing an additional 12.5% distribution for initial payments to aging network providers at the start of FY27. Representative Dow opposed the motion. The committee then moved to the Attorney General’s budget. LFC staff explained that the office’s budget relies heavily on the Consumer Settlement Fund, with both recommendations reducing general fund revenue while increasing settlement-fund use, and that performance measures were in consensus. The Attorney General said the office was not seeking more general fund, but wanted greater ability to use funds it recovers. He highlighted major consumer and public safety work, including litigation against major social media and AI platforms, a case involving Snapchat and child exploitation/extortion, the statewide crime gun intelligence center, efforts to address oilfield theft, work on missing and murdered Indigenous persons, and efforts to protect federal funds coming into New Mexico.
MN

Minnesota 2025 1st Special Session

Agriculture, Veterans, Broadband, and Rural Development - Subcommittee on Veterans - 03/19/25

Agriculture, Veterans, Broadband, and Rural Development - Subcommittee on Veterans

Transcript Highlights:
  • After we saved his house from foreclosure through the successful delivery of veteran grants and benefits
  • After we saved his house from foreclosure through the successful delivery of veteran grants and benefits
Keywords: 1187, senate, all
NH

New Hampshire 2026 Regular Session

Senate Ways and Means (04/22/2026)

Ways and Means

Transcript Highlights:
  • about 3.5 estimate we got from DRRA is about 3.5 million<00:09:09.120> in<00:09:09.360> surplus
  • And we'll be using million in surplus.
  • The first bucket is those surplus those.
  • However, we do have still a small but it's there general fund surplus against projected revenues and
  • <00:10:12.560> against it's there general fund surplus against it's there general fund surplus
Keywords: 1191, senate, all
MN

Minnesota 2025 1st Special Session

House Taxes Committee 2/11/25

Taxes

Transcript Highlights:
  • return the Surplus if there is a surplus return the Surplus if there is a surplus of<01:08:50.159
  • We spent the surplus, correct?
  • We spent the surplus, correct?
  • We spent the surplus, correct?
  • We spent the surplus, correct?
Keywords: 1183, house
MN

Minnesota 2025-2026 Regular Session

Legislative Commission on Pensions and Retirement - 03/10/26

Minnesota Senate Floor Meeting

Transcript Highlights:
  • surplus surplus if<00:54:13.520> any<00:54:13.720> exists.
  • termination at a time of surplus. termination at a time of surplus.
  • surplus provision. surplus provision.
  • surplus. That happens first. surplus. That happens first.
  • surplus, go back to the municipality? surplus, go back to the municipality?
Keywords: 1187, senate, all
NH

New Hampshire 2025 Regular Session

House Finance Division II (02/19/2025)

Transcript Highlights:
  • <02:53:09.880> statement and fishing game Surplus statement and fishing game Surplus statement
  • into it too when we get to the Surplus into it too when we get to the Surplus statement statement
  • can move to the highway fund Surplus can move to the highway fund Surplus statement the<03:19:17.640
  • me line 15 uh the transfers from Surplus me line 15 uh the transfers from Surplus I<03:19:42.640
  • 23:32.960> could budget's built on no Surplus they could budget's built on no Surplus they could
Keywords: 928, house, all
Summary: The committee first took up HB 129, which would redefine “evidence-based” in public education. The Department of Education testified that the bill’s definition would conflict with federal definitions and be very restrictive, potentially affecting a wide range of instructional methods, curriculum materials, teacher training, civics requirements, suicide prevention training, and other programs. The department said the bill could force a broad overhaul of school practices, create local implementation burdens, and require at least one new state position, with a fiscal note estimating roughly $118,000 in FY 2026 rising in later years. Members also raised concerns about possible impacts on federal pass-through funding and whether the bill was workable. Representative Papovich moved to retain HB 129, and the motion passed 7-0. The committee then heard HB 133, a Department of Safety/DMV bill involving follow-up when a person votes using an out-of-state license or non-driver ID and then does not obtain a New Hampshire credential within the statutory timeframe. DMV officials said the bill would require a $40,000 technology upgrade plus a new full-time position, and that the fiscal note did not include postage or fully account for the manual work needed to match records, send notices, and review responses. They said the proposal also raised broader tracking issues because it would apply not only to voters but to anyone who had not obtained a New Hampshire license within 60 days, and they questioned whether DMV was the proper agency to make those inquiries. Committee members pressed the department on how the 60-day clock would be determined, whether the bill could amount to a kind of poll tax or raise privacy concerns, and whether voter ID cards or other exceptions would avoid that problem. The department explained that New Hampshire offers a free voter identification card through town clerks for people without a license or state ID, but said the bill did not exempt those cards and that the DMV would still be asked to investigate status after voting. Officials also said the bill would be difficult to enforce, that some cases would be ambiguous, and that any response from the DMV would likely amount to a request for information rather than an enforceable consequence. No vote on HB 133 was taken in the portion provided.
WV

West Virginia 2026 Regular Session

Senate in Session Mar 14th, 2026 at 11:34 am

West Virginia Senate Floor Meeting

Transcript Highlights:
  • Hospital, and Mildred Mitchell-Bateman Hospital from the unappropriated surplus balance.
  • This supplemental appropriates $8,704,000 from the unappropriated surplus balance of general revenue
  • Sharp Hospital, and $4,404,000 to a new capital outlay repairs and equipment surplus appropriation to
  • This supplemental appropriates $10 million from the unappropriated surplus balance of general revenue
  • capital outlay repairs and equipment surplus appropriation within the Division of Natural Resources.
Keywords: 994, senate, all
Summary: The Senate met with prayer, the Pledge of Allegiance, journal approval, and numerous introductions of pages, guests, and visitors, including a large McDowell County Day delegation. The chamber also adopted Senate Resolution 66, designating March 14, 2026, as McDowell County Day at the Legislature, with remarks highlighting the county’s history, resilience, and economic importance. On legislation, the Senate rejected House amendments to Senate Bill 493 on open captioning for motion pictures and asked the House to recede. It then took up and passed Senate Bill 587, adjusting the salary schedule for elected county officials, after adopting an amendment restoring county control over future pay increases; the bill was made effective July 1, 2026. The Senate also received a gubernatorial executive message containing 76 nominations and set consideration of those nominations as a special order for 4 p.m. The Senate quickly advanced and passed several supplemental appropriation bills, all by unanimous 34-0 votes and made effective from passage: House Bill 527 for the Department of Health Facilities and three hospitals; House Bill 528 for the Department of Agriculture’s spay-neuter assistance fund; House Bill 5307 for the Department of Tourism, Division of Culture and History; Committee Substitute for House Bill 5317 for the Division of Natural Resources; and House Bill 5694 for the Department of Education, which removed unnecessary budget language. The chamber then recessed for 30 minutes.
FL

Florida 2025 Regular Session

February 4, 2025 - 12:30 PM

Transcript Highlights:
  • Basically, they ensure that we will always be able to pay claims when our surplus and reinsurance is
  • So we need to avoid the assessments; we need to maximize our surplus. So no, we did not offer it.
  • And again, it helps us build up that surplus.
  • , in surplus.
  • If we wanted to request lower rates that would, you know, that would adversely impact surplus, there
Summary: The Insurance and Banking Subcommittee received a lengthy presentation from Citizens Property Insurance Corporation CEO Tim Serio, with Insurance Commissioner Michael Yaworski also answering questions. Serio reviewed Citizens’ role as Florida’s insurer of last resort, its statutory funding structure, eligibility rules, depopulation program, reinsurance obligations, and the surcharge/emergency assessment mechanisms that can be used if Citizens runs a deficit. He emphasized that recent legislative reforms, combined with lower litigation and improved market conditions, have helped the private market recover and reduced Citizens’ policy count from a peak of about 1.41 million in 2023 to 936,182 at the end of 2024, with a projected drop to about 771,000 by the end of 2025. He also said the reforms reduced Citizens’ rate need and helped avoid an emergency assessment after the 2024 storms. Members asked about Citizens’ rate increases, why Citizens still seeks higher rates despite lower litigation, how the 20% eligibility threshold works, whether Citizens should be wind-only, and whether the state or federal government could help with deficits. Serio explained that Citizens is still charging below actuarially sound rates in most areas, that rate filings reflect reduced litigation and lower reinsurance exposure, and that assessments on all Florida property policyholders are the reason Citizens tries to build surplus and depopulate. He said the depopulation program is working better than in the past, with less than 2% of takeout policies returning to Citizens, and that the Office of Insurance Regulation has been vetting takeout companies more carefully. A substantial portion of the discussion focused on claims handling after Debby, Helene, and Milton, including flood-versus-wind disputes and Citizens’ use of the Division of Administrative Hearings for some claim disputes. Serio said Citizens had received 76,625 claims from the three storms and had paid nearly $823 million in indemnity and expenses as of January 7, 2025. He said many closed-without-payment claims were either below deductible, withdrawn, duplicate, or flood-only, and that Citizens had asked its internal audit function to independently review the claims data and denials. He also described Citizens’ storm outreach, catastrophe response centers, managed-repair program, and claim review process, and said the corporation remains focused on paying valid claims while minimizing the risk of assessments on the broader Florida market.
AZ

Arizona 2026 Regular Session

02/04/2026 - Senate Judiciary and Elections

Judiciary and Elections

Transcript Highlights:
  • It's a pre-foreclosure. So I think these things are important to discuss.
Summary: The committee approved the minutes and then took up several election, family court, and criminal justice bills. SB 1425, the “big bill,” would move Arizona’s 2026 primary election date earlier and adjust related election administration timelines; the chair’s amendment moved the primary to July 21 and removed the shortened curing/ID deadlines. County officials testified in support, explaining the timing changes and the need to align dates, and the committee adopted the amendment and gave the bill a do-pass recommendation. SB 1289, dealing with certifications for entities providing money or resources for election administration and foreign funding disclosures, also received a do-pass recommendation after testimony from supporters arguing it would block foreign influence in election administration and ballot issue spending. The committee later heard SCR 1013, a related resolution that would more directly prohibit foreign-source money for election administration and ballot measures; the sponsor and supporters said it was similar to SB 1289 but broader, and testimony focused on foreign money flowing through nonprofit networks. The committee then considered SB 1326, which would allow courts to award attorney fees and costs to victims when a party violates or worsens a victim’s rights. A victim’s attorney testified that the bill would provide needed accountability and guidance, while opponents argued the term “exacerbates” was vague and that existing remedies already exist. The committee approved SB 1326 on a 4-3 vote. SB 1402, requiring courts to impose a fee on certain probationers to cover electronic monitoring costs, drew support from the sponsor and advocates who said offenders should pay for monitoring, and opposition from defense attorneys who warned it could burden indigent probationers and divert money from treatment; it also received a 4-3 do-pass recommendation. The most extensive debate was on SB 1330, which would allow a parent in certain custody cases to request a jury trial on parenting time or legal decision-making. Supporters, including several parents, described costly and traumatic family court experiences and argued a jury would provide a neutral check on judges and court-appointed professionals. County and court representatives opposed the bill, saying family cases require specialized judicial expertise, jury trials would delay urgent matters, increase costs, and risk confidentiality. Despite those concerns, the committee adopted the bill on a 4-3 vote. The committee also approved SB 1328, which declares state policy favoring parental rights and a child’s equal access to both co-parents, after adopting an amendment adding legislative intent language. Finally, SB 1329, which would let parents sue court-appointed professionals who deviate from professional ethics or standards in custody matters, passed 4-3 after testimony from parents and advocates who said court appointees lack accountability, while opponents said existing malpractice and licensing remedies already address misconduct.
OK
Transcript Highlights:
  • As a civil practitioner that's familiar with foreclosure, you will appreciate there's a process now quadruple
Keywords: 914, all
NM

New Mexico 2025 Regular Session

IC - Legislative Finance Nov 19th, 2025

Transcript Highlights:
  • This would include legal services for fraud, domestic violence, disability rights, foreclosures, etc.
NM

New Mexico 2025 Regular Session

IC - Economic and Rural Development Jul 7th, 2025

Economic & Rural Development & Policy Committee

Transcript Highlights:
  • The risk that they take by not foreclosure of their homes.