My real advocacy in the foreclosure fight began when we went to Tallahassee to fight attempts by the banking industry to turn foreclosures into a Wild West, non-judicial foreclosure state…which operates like the repossession of a car…except that all of your life’s possessions are in that car….but that’s a whole other story.
The bottom line is while we were in Tallahassee fighting this bill an insider pulled me aside and re assured me….he said, The Non Judicial foreclosure bill is never going to pass….our courts would go broke without the foreclosure filing fees. In this current crisis environment and as we struggle to understand the deep, dark sinister forces that are pushing this mad rush toward foreclosures, we turn back to the old Maxim, “Follow The Money”.
So that’s the simple explanation….our courts need to keep the foreclosure machine humming along in order to keep the lights on….regardless of the larger societal impact. Have a little read at the Senate analysis below. Pay particular attention to the economic impact section….