While Wronged Homeowners Got 0 Apiece in Foreclosure Settlement, Consultants Who Helped Protect Banks Got Billion
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Ten major U.S. banks and mortgage companies will pay .5 billion to settle complaints that they improperly foreclosed on some homeowners, federal regulators announced Monday.
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Here’s a sign of just how big and messy the foreclosure problem is: Bank of America has sued itself at least nine times in the month of April.
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Foreclosures rose 8 percent nationally last month from December, but were down 15 percent from a year earlier.
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The hole is that if your home loan has been bought from your lender by Fannie Mae or Freddie Mac, you’re not eligible for the mortgage relief encompassed by the deal. Since Fannie and Freddie control well more than half of all outstanding mortgages, this shortcoming looks to be what engineers would call “non-trivial.”
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For those who don’t understand what just happened, US banks just funded Obama’s re-election campaign to the tune of – billion.
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Thanks to mammoth mortgage lender Bank of America’s landlord not paying its mortgage on its Atlanta headquarters, the Bank of America Plaza now faces foreclosure
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notary who blew the whistle on the immense robo-signing scandal was found dead in her home on Monday morning after failing to appear in court.
It’s Not News Yet
A notary public who signed tens of thousands of false documents in a massive foreclosure scam before blowing the whistle on the scandal has been found dead in her Las Vegas home.
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On Friday, the law firm of Steven J. Baum threw a Halloween party. The firm, which is located near Buffalo, is what is commonly referred to as a “foreclosure mill” firm, meaning it represents banks and mortgage servicers as they attempt to foreclose on homeowners and evict them from their homes.
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