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Loan Modification

: Mortgage Lender Implode-o-Meter

Failure of foreclosure bill shows lobbyists rule

By Implode-Explode Heavy Industries

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Who, exactly, is in charge in Sacramento? Nominally, it's the Democrats, who have a majority in the Legislature. But, in reality, they have abdicated their power to lobbyists.

That outrageous betrayal of the public interest is particularly evident in the Assembly, where Senate Bill 1275, a modest attempt to protect homeowners facing foreclosure, was voted down earlier last week.

Full post as published by Mortgage Lender Implode-o-Meter on August 30, 2010 (boomark / email).

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