Roots: Foreclosure Fraud and Student Loans
The foreclosure fraud crisis and the student loan debt crisis spring from the same roots, sharp reduction in borrower protections, heavy lender lobbying influence (via campaign contributions) over elected officials, and a system where loan defaults are more lucrative than performing loans.
Unfortunately, in the thick of a presidential campaign, we hear no policy or plans that directly address these issues. In a close presidential race such as the one between Obama and Romney, powerful voting blocks weld great power. If all the families struggling with underwater mortgages organized with all the families struggling with unsustainable student loans, we would realize the benefit of power, numbers, and demands for solutions that work for our families.
Our firm urges you to remember that debt, whether from education, mortgage, credit cards, or car loans, is a legal contractual issue that that demands a well rounded analysis of your options. We believe strongly in educating you on your rights and the consequences of the options available to your family. We are ready to confidentially listen to your struggles on these issues and will provide individualized advice targeted to help your family cope during these difficult times.
To read more about a common sense solution to fix the student loan crisis posted on Forbes.com, click here.