Friday, April 12, 2013
The legal enforcement of handling of mortgage issues with citizens has been degrading significantly since 2002.
After the 2000 crash, the government switched to supporting lax (less legal enforcement) standards for mortgages. This is well documented in this and other blogs.
It takes an outsider to push for change, one that isn't under undue influence. Elizabeth Warren is that person. NYTimes has decent article covering at a very high level the state of affairs with mortgage abuse. Below is quick video. I am not optimistic at all that change will be for the better.
I fully expect the spiral to continue downwards, and these efforts will not succeed. Only in the depths of a financial disaster will the majority rally behind the minority who care about these topics.
Tnx for Bob for link