Discussion:A Nation of Laws (err Strike that)
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Discussion Forum Index --> General Chat --> A Nation of Laws (err Strike that)
| 9 February 2012 | |
| Mortgage Servicer Settlement.
http://www.bloomberg.com/news/2012-02-09/u-s-mortgage-servicers-in-26b-settlement.html Us poor slobs have to have our paperwork in order if we want to claim a mortgage lien...for one thing we need a proper mortgage and a proper assignment if it's been assigned. And if we want to foreclose we have to get the procedure right. But the banks and the bank servicers don't have to bother with these silly rules (formerly known as laws). “This agreement establishes significant new homeowner protections,” Holder said at a press conference. “It also provides substantial financial assistance to victim borrowers.” Bull. The banks had no valid lien against the homes, the homeowners own the homes. What is so infuriating is that the homeowner also paid for document preparation fees and other legal fees and even though the banks essentially stole this money the homeowner still loses. Every time we came to a fork in the road in this mortgage crisis we resolved it in favor of the banks and we've solved nothing and it will happen again and when it does we deserve exactly what we get. (It is my understanding that some states did not join this settlement so if you have a client with a problem send them to confer with a consumer attorney.) | |
