http://abcnews.go.com/blogs/business/2012/03/n-y-foreclosure-costume-party-firm-settles-for-4m/ The latest Business news and blog posts from ABC News contributors and bloggers. Mon, 20 May 2013 22:30:12 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://abcnews.go.com/blogs/business/2012/03/n-y-foreclosure-costume-party-firm-settles-for-4m/#comment-1606672 Robert Fri, 23 Mar 2012 14:55:24 +0000 http://abcnews.go.com/blogs/business/?p=71312#comment-1606672 So basically, the Attorney General demands $4M for defective procedures, even though they admit that it would have made zero difference because the same people would have been foreclosed upon anyway, even if perfect procedures were followed? This might look good as a headline for NY Ag Schneiderman, but shouldn't he be focusing on things that actually have a legitimate effect on homeowners (like predatory lending)? Instead he's obsessed with perceived errors that have no actual effect on anyone at the end of the day. The predictable consequence of all of this is that no one is going to want to be a foreclosure attorney anymore because it is a thankless role to begin with, let alone when every action is put under the microscope. If I were a homeowner and were evicted, I would be extremely upset, but it doesn't really make any sense to be mad at the attorney that handles the foreclosure proceeding. So basically, the Attorney General demands $4M for defective procedures, even though they admit that it would have made zero difference because the same people would have been foreclosed upon anyway, even if perfect procedures were followed? This might look good as a headline for NY Ag Schneiderman, but shouldn’t he be focusing on things that actually have a legitimate effect on homeowners (like predatory lending)? Instead he’s obsessed with perceived errors that have no actual effect on anyone at the end of the day. The predictable consequence of all of this is that no one is going to want to be a foreclosure attorney anymore because it is a thankless role to begin with, let alone when every action is put under the microscope. If I were a homeowner and were evicted, I would be extremely upset, but it doesn’t really make any sense to be mad at the attorney that handles the foreclosure proceeding.

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