Reason Writers Around Town: Anthony Randazzo in Forbes on Robo-Signed Foreclosures


Reason Foundation policy analyst Anthony Randazzo talks about foreclosure-gate in Forbes:

Nearly six months after banks were caught rubber stamping foreclosures and wrongly evicting families from their homes–a scandal since dubbed "robo-gate"–state attorneys general have indicated that an agreement on restitution could be near. But a devil lurking in the details of the settlement agreement with the major mortgage servicers could make a housing recovery much further off than it needs to be. If regulators get their way, and their proposed $20 billion pound of flesh, we could see another huge wave of  mortgage defaults, shred confidence the enforcement of contracts, and potentially stop housing lending all together for the time being.

Read the whole thing here.