Predatory lending litigation

Posted on September 13, 2007 by Blake Bailey

Common Cause has just issued an intriguing report suggesting a link between the severe problems in the subprime lending market and political contributions made by the lending industry to lawmakers. The following is an excerpt from the report's executive summary:

While investing nearly $210 million on Washington lobbying and campaign contributions, the mortgage lending industry for seven years successfully blocked Congress from taking action to restrict lending abuses that saddled economically vulnerable families with home mortgages they could not afford. In 2006 alone, foreclosure filings across the country were up 42 percent compared to 2005—a total of 1.2 million homes in jeopardy, or one in every 92 homes. And foreclosures continue to mount in 2007, with March foreclosure filings up 47 percent compared to the year before.

http://www.bailey-law.com/lawyer-attorney-1215840.html

 

It is time for plaintiff's trial lawyers who represent injured people because of unreasonably dangerous products and negligence to take up the banner for those victims of a more insidious evil that cuts to the core of family values and integrity of the working man and woman.
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