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This video is one of the more important foreclosure videos of this very difficult time. We must all recognize the tremendous and improper pressure that our entire court system has been placed under to…DEAL WITH THIS FORECLOSURE CRISIS!

This video shows how this pressure plays out against a foreclosure mill attorney, and it is not pleasant to watch.

As citizens and as attorneys especially, we should all remember the directive that…

ONCE THE CRISIS HAS PASSED, THE ONLY THAT THOSE AROUND YOU WILL REMEMBER IS HOW YOU RESPONDED DURING THE CRISIS

At some point in time, somewhere in the distant future, the “foreclosure crisis” will evolve into something different than it is today. I believe one manifestation of the evolution will be downturn in this state’s nascent real estate recovery. I’m not entirely convinced that there is a real, real estate recovery. And what recovery there is is not sustainable. Moreover, the volume of foreclosure cases disproportionally impacts lower income neighborhoods and people who are already disproportionally impacted by the overall inequities in the larger economy.

The homes that are being pushed through the foreclosure mill will not have a sufficient volume of new purchasers.

Keep this in mind…especially with reporting of increased insurance and property taxes.

Oh, and layoffs in major mortgage lenders…Wells Fargo just releasing 2,300 from mortgage processing…..how’s that impacting the real estate….”recovery”?

 

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