Comments on: SCHNEIDERMAN Op-Ed | Attacking The Foreclosure Crisis

By: talktotennessee

talktotennessee — Fri, 27 Apr 2012 05:45:39 +0000

I wish Schneiderman and peers could see the housing crisis is far from over. Banks have opened their inventory floodgates for short sales and REOs to flood the market. Happening now. Values in some areas are continuing to drop. A zero lot line unit sold originally for over 70K in the late eighties is now valued at 20K. Over 1700 sf and it will sell for cash in a short sale or REO. Tax appraised for 80K and now worth less than the lot cost. There were over 100 foreclosure notices today’s Daily News, which publishes every day one of the two notices required to force an auction on someone’s home. Interest rates below 4% with few takers for these houses except to investor buyers who will rent them, turning entire neighborhoods into a wasteland with tax income sliding in the next few years. It hasn’t even hit municipalities yet what is happening. As values fall, property tax income will fall, services will fall.
There is so much ignorance or perhaps it is “ignoring us” that appeals to banks and government as they turn their backs on what is happening now and will continue years to come. A great wealth divide deepens and poverty swells.
One day someone will say, ” if only we had acted in time to stabilize housing.” But no, we bail out GM and the banks but people flounder, still losing their homes.

By: Fury

Fury — Fri, 27 Apr 2012 01:32:32 +0000

AG Schneiderman,

Indictments talk.
Op Ed pieces walk.

use your subpoena power and prosecute the banking and wall st. criminals who have committed crimes against homeowners!

By: LVLawman

LVLawman — Fri, 27 Apr 2012 00:55:13 +0000

Nice toot of your own horn AG Schneiderman. Unfortunately, after 5 years no high ranking officer of any financial firm has been held criminally accountable. Your words will have meaning when we see indictments of those high ranking, and very highly paid, Wall Street officers that are responsible before we hear that nothing can be done because the Staute(s) of Limitations has expired.

It ain’t rocket science!

By: readdocs

readdocs — Thu, 26 Apr 2012 22:08:41 +0000

Oh sure, and we all have happy feet to dance to the words of Schneiderman.
I am not impressed, nor do I have any faith in his words.

By: Gene

Gene — Thu, 26 Apr 2012 18:06:06 +0000

Who thinks the AG of Florida do will anything comparable to the AGs of California, Massachusetts or New York? How about the county/city of San Francisco ceasing all foreclosure activity? No, Harris, Coakley, and Schneiderman are not angels… but how much further away will Bondi veer from the relatively responsible programs that are being implemented by other state AGs? Will Florida’s “settlement” money aid those in need or will it end up in the state’s general fund?

Interested parties want answers and accountability for Florida homeowners at risk of foreclosure and those already foreclosed.