Apparently 50 States Can Work Together

It’s a shame that it’s taken the mortgage mess to get them to work together.

Top legal officers of all 50 states opened a joint investigation into home foreclosures, saying they will seek an immediate halt to any improper practices at banks and mortgage companies.

And now, Virginia joins the fray.

In a statement, Virginia Attorney Gen. Ken Cuccinelli (R) said of the investigation: “Obviously, this issue affects peoples’ homes as well as the economy This probe will be thorough, expeditious, and fair to both homeowners and lenders.”

What will this mean to buyers and sellers in the Charlottesville area? Bluntly, no one knows how this will play out, and our market doesn’t need any more uncertainty.

For some reason, I think think the only winners here will be the government and the attorneys.

Here is some of what I’m reading to try and make sense of it all:

Foreclosuregate? A scandal? If you want to sue for damages, it behooves you to have suffered a real, actual, material injury.

The National Foreclosure Moratorium Robo Sign Housing Debacle-ism

Document Mess Hits Fannie, Freddie

Foreclosure Fraud: Systemic, Negligent, Criminal

Foreclosure Delays: ‘Nail In The Coffin For Housing’

Two Wrongs Don’t Make It Right

And this may be the best article I’ve read yet – Why Foreclosure Fraud Is So Dangerous to Property Rights

And … the Coming Middle Class Anarchy. Read the whole thing.

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1 Comment

  1. Ria Wise October 17, 2010 at 20:28

    Well, people and organizations only bond in times of tragedy and great confusion, which is quite a shame. Thanks for the added references, I’ve been trying to get my head wrapped with everything that’s happening concerning this mortgage chaos.


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