(Phoenix, Ariz. – Dec. 9, 2009) Attorney General Terry Goddard will be in Washington, D.C. Thursday to meet with executives from some of the nation’s largest banks to discuss ways to minimize the next wave of foreclosures facing homeowners and commercial mortgage borrowers. He will be joined by Attorneys General from other states hardest hit by the mortgage crisis.
“While there have been some positive reports recently, Arizona is far from out of the woods when it comes to stabilizing our housing market. Along with homeowners, local businesses already struggling under the weight of the constricted credit market are at increasing risk of foreclosure on their commercial properties,” Goddard said.
“I am committed to working with the national lenders on Wall Street – especially those that received government bailout money last year – to pass more of those benefits along to consumers and businesses along main street.”
Goddard will also be meeting with members of Arizona’s Congressional delegation to urge them to preserve states’ legal rights to protect consumers from abusive lending schemes. Several potential amendments to the financial regulatory reforms proposed by the Obama administration would limit the authority of state Attorneys General to protect consumers from mortgage fraud and hold national lenders accountable for predatory behavior.
For more information, contact Anne Hilby at (602) 542-8019.