“The single largest obstacle to meaningful economic recovery is a man who most Americans have probably never heard of, Edward J. DeMarco,” said Peter S. Goodman, Business Editor at The Huffington Post.
Ed DeMarco is director of the Federal Housing Finance Agency (FHFA) where he oversees all Fannie Mae and Freddie Mac activity. His refusal on principal reductions has caused uproar and thoughts that he does not have the best interest of homeowners in need of help with foreclosure in his agenda.
Homeowners are heading into mortgage default left and right and property values are plummeting, leaving much of the country in need of mortgage rescue.
DeMarco’s refusal on principal reductions “has ensured that tens of millions of borrowers remain “underwater,” Goodman said.
Elijah E. Cummings, of the 7th congressional district in Maryland, seems to share Goodman’s views on a smoother economic recovery without DeMarco.
The foreclosure fraud settlement is predicted to barely help a fraction of those in need of help with foreclosure. DeMarco isn’t helping make any progress either. What’s the next step forward?
Call The Foreclosure Law Center today, for a FREE consultation. 1-888-600-5505
