Pushed to Shove
  The Fix is In

Putting him in charge of fixing the mess he created and encouraged the Legislature to support is a clear case of the inmates running the asylum

Dear Rob,

I see you’ve recorded a video detailing the HB 2791 debacle and suggesting there’s a very simple fix . . . going back to the original version your office “crafted.”

Crafted?

The original version was a total mess, and going back to it isn’t what most of us consider a fix.

Remember the original version?

that 82% thing

The original version talked about minimum acceptable purchase prices, eliminating the owner’s rights to freely contract and setting the number as a percentage, 82%.

It was so bungled you’d based it on the owner’s equity and not the market value of the property. That means to do a distressed property transaction, investors are required to pay what is, effectively, more than full price.

Embarrassing.

foreclosure is better

And let’s not forget, your original version, sponsored by Rep. Pat Lanzt, was based on the ridiculous notion that “foreclosure is better.”

Is that the original premise we’re returning to?

And, if so, does it really make sense to put your staff in charge of fixing this mess?

A Very Simple Bill

Does that also mean AAG Jim Sugarman, who appeared before the Legislature in support of the final version of this bill, will be involved?

He demonstrated how little the truth mattered when he called it “a very simple bill,” knowing full well it was anything but. And with him appearing on KVI radio last week saying every transaction I’ve done was a case of “equity stripping,” it’s clear he’s incapable of fair and reasoned thinking.

Putting him in charge of fixing the mess he created and encouraged the Legislature to support is a clear case of the inmates running the asylum.

The fix is in

And now, to assure us all the fix is in (as if we didn’t already know), we have you doing a video about how you’ll get it corrected by returning to the original version.

Correct me if I’m wrong, but isn’t that the version modeled after the 2004 Minnesota law that’s proven to be a disaster and has contributed to sky-rocketing foreclosures?

And isn’t that the version that restricts a homeowner’s right to freely contract and sell the property as he see’s fit?

And isn’t that the version that’s based on Pat Lantz’s “foreclosure is better” notion that is nothing short of absurd?

And isn’t that the version that Northwest Justice Project helped to create, the same group that believes making ANY profit is unfair and that we Westerners lag behind our Islamic counterparts?

And isn’t that the version that banned the use of valid Powers of Attorneys and required sellers to personally attend closing, even if they’d long since moved away?

And isn’t that the version that effectively prevents owners from staying in their homes by barring investors from doing deals both owners and investors deem fair and acceptable?

And isn’t that the version your office created for nothing other than to gain political points for the upcoming election, knowing full well that only four foreclosure rescue scam complaints had been registered with your office?

The True Fix

There is an opportunity for a real fix, Rob, and it’s very simple.

To preserve our real east marketplace, take investors and agents out of the line of fire, and allow owners in foreclosure the right to freely contract (and at least have a shot at saving their homes), all you have to do is admit the whole thing was a mistake and end it.

We don’t need a foreclosure rescue scam law. ANY law like it has proven to be ineffective and cause more problems than it solves.

You proved it yourself, and it will be interesting to see what, if anything, you’ve learned from this multi-million dollar foreclosure rescue scam mess your office foisted upon us.

The fix?

Just say “no,” Rob.

Simple as that.

In the arena,

Joe Kaiser

This entry was posted on Friday, July 11th, 2008 at 12:45 am and is filed under HB 2791, Letters. You can follow responses to this entry through the Comments RSS Feed. Pinging is currently closed.