Tuesday, January 24, 2012
Once again the true victims - those evicted from foreclosed homes will receive NOTHING~!!!!!
Bank settlement: Maryland Attorney General Gansler... Bank settlement: Maryland Attorney General Gansler is urged not to sign foreclosure settlement with banks - Baltimore Sun
"This is hundreds of years of property law that has been completely dismantled in some jurisdictions," said New, who most recently called Gansler's office Friday in response to an appeal on the Naked Capitalism blog. "It's a very serious issue."
The total that banks would have to pay under the settlement is reportedly $20 billion to $25 billion — some of it in cash, most through reducing the amount of homeowners' mortgages — in exchange for an as-of-yet-unclear amount of protection from civil liability.Bank settlement: Maryland Attorney General Gansler is urged not to sign foreclosure settlement with banks - Baltimore Sun
MY NOTE: Once again any settlement that does not account for those already evicted from homes, from toxic loans and fraud foreclosures should be AXED!!!!!
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2 comments:
My sister lost her home to Bank of America. The mortgage mortification was a joke, she was newly divorced, had no roommate and was struggling. She offered them $105,000.00 for the home the bank said NO and foreclosed on her loan. What she could pay for the home is exactly what the bank purchased her home for. She got a date to leave the home, if she leaves on time the bank will give her $2,000.00. Maybe it is me, but I do not think that it is fair. I think that banks want to foreclose on homes so they can get a tax break or pay back from the government.
I have the same scenario with your sister. My farm has been foreclosed since 2007 because my ex abandoned it and the mortgage payment. To date it is up for sale and I am wrestling to retain my farm. I planned of seeking a temporary restraining order (TRO) from the court. I don't know if I will be granted. But I will work on the double to retain this..
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