Arizona Rep McCune Davis Still Waiting For Response from Speaker Andy Tobin

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SEE Az MCCune-Davis Letter to Andy Tobin, House Speaker

At a meeting last night, Arizona State Representative Debbie McCune Davis disclosed that on June 10, 2011 she had sent a letter to Andy Tobin, speaker of the Arizona House of Representatives, requesting that the House set a hearing to allow Homeowners to tell their stories about their home mortgages, attempts at modification and foreclosures. She is still waiting for ANY response.

She expressed her disappointment with the legislative process and shared some anecdotes, demonstrating that the banks are controlling the agenda in the Arizona legislature. The principal point she made that she felt was an error on the part of all legislators and the media was that the only source of information on the mortgage crisis seems to be the banks themselves. I stated that going to the banks for information was like going to a rapist for sex education. She wasn’t pleased with the way I phrased it but the audience seemed to agree with me.

All she was asking for was a forum in which the legislators would hear the facts from the other side of this, allowing homeowners and lawyers to give information on the current state of foreclosures, the quality of the mortgages and the process of modification or  mediation. Despite the existence of a $300 million dollar fund to reduce principal balances of mortgages in modifications, there have only been a handful of such modifications.

Among the points she raised in her letter were the following:

1. A total of 451,590 estimated foreclosures for 2009-2012.
2. Lost home equity wealth of $51.7 billion, more than 5  times the annual budget of Arizona
3. The Zillow home value index has declined every month since February, 2006
4. Rural communities are also getting hit hard with thousands of foreclosures.
5. Projected recovery from the housing crisis is not expected to begin until at least 2014. Arizona is projected to be the last state of the union to recover with some estimates putting that date as far out as 2033 — more than 20 years from now.

My suggestion is that both Arizona and on-Arizona residents send an email to House Speaker Tobin telling him to stop listening only to bankers and start listening to those are actually affected by this crisis. As long as we allow banks to control the agenda, as long as legislators are more afraid of the banks than they are of the citizens who vote, the more likely we are to be facing a permanent crisis from which we will never recover.

Tags: ANdy Tobin, ARIZONA, bankruptcy, borrower, countrywide, disclosure, foreclosure, foreclosure defense, foreclosure offense, foreclosures, fraud, House of representatives, House Speaker, LOAN MODIFICATION, McCune Davis, modification, quiet title, rescission, RESPA, securitization, TILA audit, trustee, WEISBAND
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