Erica has practiced law in the greater Chicago area for almost 30 years. Her expertise spans the spectrum of distressed property issues, short sale transactions and counseling her clients in re-establishing their credit and becoming debt free and mortgage free.
A leader in North Shore real estate, Erica is also an invested member of the community. Her memberships include Founder and President of the Association of Foreclosure Defense Attorneys, Director – North Suburban Bar Association, President of the Skokie Chamber of Commerce, and Past President of Rotary Club of Chicago Far North, Member – North Shore Law.
Erica is also a resource for those interested in learning the most effective ways to manage debt and handle and become more knowledgeable in real estate matters. Her “Debt Management Solutions” blog and E-Newsletter have become valuable resources for individuals searching for knowledgeable, accessible advice from an expert in the field.
Too Big to Punish
JPMorgan Chase & Co’s $13 billion settlement with the federal government has received a lot of attention. Some have even said that it’s the largest settlement between a corporation and the government. While it is undoubtedly a step in the right direction, this settlement is not as historic as it sounds, and it highlights the inherent challenges of trying to hold huge banks like Chase accountable.
It would be difficult to come up with a dollar amount that would suitably punish Chase for its hand in the mortgage crisis, considering the bank’s almost unbelievable stockpiles of assets. A loss of $13 billion doesn’t sound like a lot compared to the bank’s $21 billion in profits last year or its $2.5 trillion in assets. In fact, Chase set aside $23 billion just to deal with legal costs.