The very sad and scary world of the foreclosure mills

In case you missed it, the New York Times ran an opinion piece by Joe Nocera last Friday that exposed the seemy underside of the foreclosure mill industry.

It turns out that employees at one of New York’s biggest foreclosure mills had a big Halloween party in which many people dressed up in costumes and created props that were designed to make fun of the “deadbeats” whose homes their firm has been doing its best to take away. Six amazingly tasteless photos of the shindig are posted in the article.

This morning, Mike Konczal at New Deal 2.0 has a good follow-up post on the matter. Here’s the excellent conclusion:

“Though the Halloween pictures are disgusting, they are a symptom of a larger view of the way the law should work that is even worse — one in which debtor’s protections are mocked, the rule of law is ignored, and shantytowns proudly display their creditor’s name over them. This is the way many elites view the rules when it comes to debt. Thankfully, there is more and more mass opposition to this perversion of the law.”




  1. Nonanonymous

    October 31, 2011 at 12:52 pm

    By opposition, you mean OWS. Don’t forget the Tea Party. If we want to avoid depression era riots, pro US jobs policies must be enacted, and the federal budget balanced.

  2. waxhaw nc orthodontist

    October 31, 2011 at 4:26 pm

    Foreclosure mills are in danger because of the expedited and sloppy ways they process foreclosure filings. The attitude this story displays a cavalier attitude which is indicative of the entire problem. Foreclosures are sometimes necessary especially for abandoned properties but this story cause me to lose any sympathies I have for these mills

  3. Jack

    October 31, 2011 at 5:03 pm

    I can’t imagine anyone having sympathy for of these foreclosure mills.

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