
The housing bust losers portrayed themselves as victims and heroes. Their whining got the attention of opportunistic politicians like California Attorney General Camilla Harris who used this issue to political advantage. When Attorneys General from a number of states reached an agreement with the major banks in early 2012, many housing advocates loudly proclaimed a great victory for homeowners. When I first read through the details of the settlement agreement, it was apparent to me that the banks greatly benefit from foreclosure settlement while borrowers were left out in the cold. About a month later, the general public and mainstream media caught on to this fact. By then everyone hated the mortgage settlement, except the banks. A few months later,…[READ MORE]