Home foreclosures have devastated our economy and destroyed too many families. In fact, nearly 8 million homes have entered the foreclosure process since 2007. America’s biggest lenders have allowed abuse and fraud to continue.
That’s why a committee of state Attorneys General have been negotiating a settlement with these mortgage servicers. Our Attorney General, Eric Schneiderman, was part of that committee until last night.
Attorney General Schneiderman has been a true advocate for New Yorkers and all those in America who have been touched by the mortgage crisis. According to a New York Times article today, “Mr. Schneiderman has said that he opposes any deal that gives participating banks a release from other litigation surrounding their mortgage activities.”