Foreclosure is a pain. For the homeowner, the lender, the community, the local government, the neighborhood, and society as a whole. We have gotten into this mess through individual good intentions mashed up with a little greed and a lot of frenzy. There was just as much "don't want to get left behind" as there was "let's make a killing". It's plain that there's plenty of blame AND pain to go around.
Senator Barbara Boxer has created a section on her web site with information for her California consituents concerned with foreclosure and related issues. I haven't had a chance to visit all the links yet, but there does seem to be some excellent information both for consumers and real estate professionals. One of the pieces I liked was a discussion about smart borrowing. It includes a section on how to sign paperwork with many reminders about not signing things you don't know about or didn't expect to see. It's the kind of information you would like your kids or parents to have when they are approaching a big transaction.
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