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 (archived: 2022).
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:
– 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 (archived: 2015). Read the whole thing.
Interested in Learning More?
I have been been representing buyers and sellers in Charlottesville, Albemarle, and Central Virginia since 2001. Get local insight born of experience.
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