Op-Ed for The Hall Institute of Public Policy
Mediation, farmer-lender style, can make the housing mortgage lifeline work. What New Jersey needs for homeowners facing foreclosure in the subprime loan mess
— some 53,600 were filed in 2007 and more are anticipated in 2008 — is a law that requires lenders to seek mediation for their troubled loans before foreclosure, and a
forum in which loans can be modified.
The United States Supreme Court has just finished hearing arguments in the case between New Jersey and Delaware over New Jersey’s attempt to use its riverbank for a natural gas storage and processing plant and Delaware’s resistance to it. While we await the decision, which is likely to be several months away, let’s consider a better alternative than the win/lose outcome it will produce. Both states do, after all, have the opportunity to settle their dispute before the Court renders its decision.
The Star Ledger, December 14, 2007
This article also appeared under the title, “Jersey and Delaware Need Not Resort to Court”, in the Op-Ed section of The Star-Ledger on Friday, December 14, 2007Linda Stamato, Sanford Jaffe
As the nation scrutinizes developments in the Justice Department, especially with respect to the performance of U.S. attorneys, I can’t help but recall my days as chief of the Criminal Division in new Jersey.
The Star-Ledger, April 13, 2007Sanford Jaffe