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Foreclosure Defense Florida

The State Attorneys General, Yes, They Sold Us ALL Out……

From Abigail Field:

Dear State Attorneys General:

Rumor has it that this week we will learn precisely how you sold us all out regarding the criminal enterprise that is mortgage servicing and foreclosure in America. That is, rumor has it that more than two weeks after you announced a deal with five bailed-out banks, we’ll all get to see the deal. Well, precisely speaking, we’ll all see the court filing containing the settlement.

Why the Secrecy?

Why aren’t you releasing the deal before filing it? I realize that you’re not officially rulemaking regulators who must seek public comment before finalizing rules. But much of your agreement functions like a regulator’s rule making. So why wouldn’t you, as a matter of good public policy practice, make the deal public for comment before seeking to finalize it with the judge?

Were you worried that insightful discussion of your crappy deal’s terms would end the deal’s perceived political utility? We critics can do that anyway, after it’s filed. Thing is, changing its politics is all we can do at that point. If given the chance earlier we could’ve forced you back to the bargaining table, which might have been productive. In fact, had you been talking to informed critics all along the way perhaps you would’ve cut a different deal to begin with.

Abigail Field

One Comment

  • Attorney Wendy Alison Nora says:

    No deal should have been cut at all, let alone one in which the perpetrators are in charge of the language and implementation of the proposal. And, there is no “deal.” Nothing has been put in writing for review, approval or implementation weeks after the “deal” was announced. Once again, we are talking about something that does not exist: like the “original” mortgage note in so many cases.

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