Action Alert | AZ Rep. Jack Harper (R-Sunrise) Introduces “It’s Not the Banks’ Fault” Bill

AZ Rep. Jack Harper (R-Sunrise)

 AZ Rep. Jack Harper (R-Sunrise) Introduces “It’s Not the Banks’ Fault” Bill

Harper, a Republican lawmaker from Surprise, acknowledged that lenders may have ignored normal underwriting standards. But he said that’s not their fault.  He also said he does not believe that the banks bear some responsibility for the bad loans and should have to absorb some of the losses when borrowers default.

Another prime example of an elected official representing the financial sector to the grave peril of his constituents, AZ House member Jack Harper is gearing up to introduce a bill at the behest of his friends at the AZ Bankers Association. Arizona is a non-deficiency state. In Florida, when a family looses their home in a fraudclosure they will be liable for the remaining foreclosure balance after the bank resells the home.

Here’s a real life example from Florida.

In 2006, the Woodruff family fell prey to a $172k predatory Countrywide mortgage.

Fraudclosure ensued, via a Renee Hertzler, BoA robosigned assignment to a securitized trust. The final judgment (addition of “fees, expenses, charges) was for $222k.

The trust sold the home to a new buyer for $44k.

The family, having lost their home, is still liable for $222k – $44k = $178k.

This doesn’t happen in Arizona because Arizona is a “non-recourse” state”. Representative Harper is quoted in a December 10, 2011 Arizona Daily Star article,  “Arizona’s status as one of a handful of “nonrecourse” states is keeping the real estate market from recovering here.”  Another idiot that we the people voted into a position of power who appears to believe that dogging families who’ve been fraudclosed with massive debt will help a state’s economy recover.

If a family loses their home in an Arizona non-judicial fraudclosure, they are in one of the few states that allows the family to regroup and get back on their feet without the onerous predatory mortgage debt following them into perpetuity. But Arizona elected official Rep. Jack Harper is trying to change all that.

Harper is the chairman of the AZ House Ways and Means Committee, so you AZ people must keep an eye on this committee and communicate your opposition to all members of this committee here and also your district house member.

Arizonans have their work cut out for them.  Arizona is the state where SB1259, a very strong chain of title bill, was squelched (dropped) after both lawmaker sponsors, AZ Senator Michele Reagan and AZ Rep. Carl Seel were given favorable outcomes to their own mortgage problems.   Click here for Google results for the unbelievable story of corruption behind AZ 1259.

Read more here.



9 Responses to “Action Alert | AZ Rep. Jack Harper (R-Sunrise) Introduces “It’s Not the Banks’ Fault” Bill”
  1. leapfrog says:

    Jack-Ass Harper – bribed cockroach minion of the 1%

  2. Javagold says:

    wasnt their a few scumbag Reps in AZ who helped the banks who then had their underwater mortgages get modified, fixed, helped, etc…….these people are the enemy

  3. lvent says:

    This guy and Congressmen Joe Walsh of Illinois are two of a kind…and not the good kind..!

  4. Wayne says:

    Yes this is what we have to put up with in our State … however if your in politics and your house is underwater or you want to cut a deal with the banks ….. No problem, Just ask Senator Reagan when her mortgage was in trouble and she introduced a great bill …. Bill SB 1259 … which quickly went away along with HER MORTGAGE PROBLEM ….. HOW STRANGE.

  5. Karen Jenkins says:

    Unbelievable corruption is right! These two hoods (Reagan and Steel) should have been indicted, and criminally prosecuted. Who can have any faith in elected officials after such a sleazy manouver? The truth is that most people don’t give a hoot, knowing full well states are filled with corrupt little rats that serve their banking masters right up to the point of social unrest and beyond. Harper is basically saying that Banks should be able to sue the homeless to help the housing market in Arizona. So he reads from the FAUX teleprompter, uses the favorite Bank lie of CRA, etc
    We know he’s a wretched go#$amn liar: Banks were somehow ” forced ” to lend to the unworthy. Jack should be tossed from office for such deceitful idiocy (Tomorrow!)

    • neidermeyer says:

      The scum will blame the CRA til long after we’re all dead and buried … it fits their gameplan of distraction and passing the blame … no CRA in my neighborhood … but housing was bid up +150% in 5 years… my next door neighbor was an early casualty … overpaid for the house and when he started geting behind the pressure of making payments pushed him into dealing drugs … it was his first foray into that world and got caught right away..

  6. TheHutMaster says:

    Oh Boy…. This Moron(AZ Rep. Jack Harper (R-Sunrise) even looks like a scumbag. Is he old enpugh to think? Obviously not…..

    This dirtbag will not last as I have HUGE ties in AZ., and will expose this dirtbag over the next few weeks.

    Hey “Jack” Off, come on down to Florida, We will take you gator hunting.

    “Fight The Good Fight”
    Every Minute, Every Day

    And in this case, Every SCUMBAG Punk like AZ Rep. Jack Harper (R-Sunrise)

    • neidermeyer says:

      I take it you mean as gator bait…

      Has anyone in a recourse state been able to get discovery to determine the actual “shortfall” ?? I think not.

  7. :ChrisYAHanWatcher4YAH: says:

    Another — USEFUL IDIOT

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