- The Republicans
Most conservatives favor economic deregulation as a means to reduce the government’s size. It stands as no surprise that George W. Bush never met a banking deregulation law that he didn’t like. Many Bush-era laws contributed to an attitude that all things were permissible if there was a profit to be made.
- The Democrats
Many liberals try to lift up downtrodden members of society. In the early 2000s this impulse led some to pressure Freddie Mac and Fannie Mae to extend mortgage loans to borrowers who could not afford to repay the loan. Politics and economics usually don’t mix well, and this time the pressure to make risky loans had adverse effects all over the economy.
- The Moneylenders
Americans love a rags-to-riches story. But moving from pizza restaurant employee one day to bank vice-president the next day is a bit of a stretch. As the foreclosure crisis worsened, the moneylenders poured gasoline on the fire by having their employees sign as many as 20,000 foreclosure affidavits in a single day.
What’s the moral of this story? You cannot rely on the politicians or the moneylenders to safeguard your home. But before you take on the moneylenders, you need to know all your options. The professionals at Henley and Henley have both bankruptcy and non-bankruptcy solutions to many common problems that Dallas area homeowners are facing today. Call for your free consultation.
