Homeowners were forced to waive their rights to avoid foreclosure!

Homeowners beware of your rights and the fine print in your loan modifications! I was reading an article that I would like to share from a website I often visit:
ProPublica recently learned of several cases where mortgage servicers required homeowners to waive their right as part of an agreement to avoid foreclosure.  In these cases, contracts provided by home mortgage servicers included clauses requiring borrowers to waive rights or state they had no defense to foreclosure.  It is hard to tell how widespread this practice is.  In some cases mortgage servicers insert ambiguously-worded clauses that could later limit a homeowner's defense to foreclosure. Here is just one of the many examples of the clauses that were found deep in the fine print:
* Borrower acknowledges that Lender is the holder and the owner of the Note and that as provided in the Note or as amended by this Agreement, the Lender may transfer the Note.  The Lender or anyone who takes the Note by transfer and who is entitled to receive payments under the Note is called the "the Note Holder" in this agreement.  from a Citi Modification  -There are many more examples as Posted in http://www.propublica.org/ion/loan-modifications

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