This won’t take long. It’s not like I want to write about this topic. It’s just that I feel obligated to say something here, because if you’re reading the mainstream news… or the lack of mainstream news… it could seem that the foreclosure crisis is now behind us… AND IT’S NOT.

In fact, I can tell you that it’s not even close.

Maybe the mainstream media has simply gotten tired of the topic. And it’s not like they’ve ever had a particularly good handle on what’s going on in real life when it come to foreclosures in general. So, perhaps I shouldn’t be surprised at the latest coverage, or lack thereof.

But I am surprised.

As recently as September of last year, RealtyTrac has been reporting that the crisis is “well behind us.” In its U.S. Foreclosure Market Report™ for August 2014, were reported on 116,913 U.S. properties in August…

I cannot emphasize enough the importance of the Supreme Court’s decision in Jesinoski.  The financial industry had used the courts to rewrite the Truth in Lending Act (TILA) for over two decades. Lenders did not feel they had any duty to respond to a rescission notice and lenders routinely ignored the rescission notices.  In fact, they did not feel they had a duty to follow any of the provisions of TILA.

But this was not TILA’s intention.  TILA was created as a consumer protection statute.  It was designed to level the playing field and allow consumers to be private attorney generals.  That put the consumer in the driver’s seat.  No wonder lenders successfully emasculated the statute for over two decades.

The Supreme Court put the teeth back in TILA and it’s scaring lenders because lenders do not like being accountable for their misdeeds.  Suck it up lenders and learn…