Ed is a guest author here, it is SUCH a good post. Any of you who are following foreclosures here and around the Country, I can’t recommend this post enough. I love alternative thoughts that add substance to issues.
Just to tantalize you, here is a quote:
“….While I believe the [Baltimore] allegations to be factually accurate, I don’t think that they’ll stand in a cause brought by a financially beleaguered municipality against a lending behemoth that most likely employed practices that were both legal and generally accepted by the mortgage industry, as disturbing as the truth is. Wells Fargo’s attorneys will argue that Baltimore’s government was at fault for failing to promulgate ordinances to better advocate the rights of consumers and lobbying, at the same time, for similar statutes at the state level…”
While I am at it, if you have not seen the Pee Dee article that highlights a CWRU study – complete with interactive maps. It’s sobering look at Sheriff sales and foreclosures, neighborhood by neighborhood – suburbs included. And an automatic must read is Bill Callahan on the City of Cleveland lawsuit against 21 lenders. Peace Out – 3C
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