Lisa Madigan Quotes

We pursued many actions against foreclosure rescue scammers who were reaching into the pockets of desperate people in an effort to steal what little remained as they sought to keep their homes.

We have to be pretty tough with mortgage companies and say you have got to give people the chance to work out their debts, sort out future mortgages.

Usury once in control will wreck the nation.

There were absolutely circumstances where Sallie Mae was working hand-in-hand with for-profit schools and other schools in offering and putting students into risky expensive subprime loans.

As I travel across Illinois and talk with people, and as others reach out to my office desperate for help, I am becoming convinced that, despite their rhetoric, many lenders have no interest in actually helping their customers.

Every day there are homeowners in California who will either receive relief so they can stay in their home, or will be in the foreclosure process and potentially lose their home. And that always weighed heavily on my mind.

For too long, tricks and traps in mortgages, credit cards, and other financial transactions have stripped wealth from working families.

In a forbearance, the homeowner pays interest and principal on a smaller mortgage, at least for a time, but still owes the full amount. The lower monthly payment helps with affordability, giving stressed homeowners a break.

And I think we need a combination of a freeze, potentially, and also we need to sit down with the - with the banking industry and talk to them about ways in which we can help them be able to work those mortgages out, because it's absolutely imperative that we keep people in their homes.

I'm short-selling my house. I have more loans than I can sell the house for. The house will not go into foreclosure. It will be a short sale. I can't afford the house as I once could.

I think the millions of people who had been able to renegotiate their mortgages so they are paying lower interest rates are better off.

We believe that you know how pernicious the vice of usury is …. We command you all by this apostolic writing not to permit those who are known as usurers to clear themselves by any subterfuge or trick when they are charged with the crime.

I've repeatedly seen unscrupulous lenders use every con in the book to charm and lie to homeowners. Lenders actually paid brokers a premium to put people in higher-priced loans with toxic features, such as adjustable rates and prepayment penalties.

My investigation found Sallie Mae put student borrowers into expensive subprime loans that it knew were going to fail.

Navient/Sallie Mae treated student loan borrowers unfairly from start to finish.

The old-fashioned idea is that responsibility falls upon those who borrow and lend. Money was not borrowed by campesinos, assembly plant workers, or slum-dwellers. The mass of the population gained little from borrowing, indeed often suffered grievously from its effects.

I ran a 'loan modification machine.'

The most troubling loan we had was actually to the 'Octomom'. That was a terrible situation, and we worked very, very hard to move her to another home that they could afford.

Too often, borrowers who need quick cash end up trapped in loans they can't afford.

I was absolutely astonished and could not believe my eyes at the outrageous interest rates that people in need have to pay to get loans.

If you're one of the millions of people who have student debt right now, I'll help you refinance your loans at better rates.

Why don't we call on the credit card companies to be accountable? They need to be held accountable for their predatory lending practices.

We did not get any money from the early records. It was all taken by crooked managers. It is just a gangster's paradise.

We have seen the big loan servicers drag their feet in the Obama administration's well-intentioned mortgage modification program.

Kill the Rent Hog and the Interest Hog.