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Foreclosure Defense FloridaGeneral Information

FORECLOSURE FILINGS WILL INCREASE! The Banks Coerce Another Sweetheart Fraudclosure Settlement- Regulators Cave, Consumers Get Kicked In The Teeth.

Far too many consumers have been going it alone, resolving to try and work out their foreclosure case with the banks directly, hoping that government investigations and interventions would provide them with some relief. But this was clearly delusional thinking, as the latest fraudclosure settlement terms are revealed. The bankers meet in private with lapdog government officials and sign onto a settlement agreement that involves them paying back just some small percentage of the money already gifted to them from taxpayers. Not even close to any penalty or punishment for wrongdoing, and consumers are left out in the cold….in many cases quite literally.

And what will be the impact of this settlement? Just like after they announced the 49 State Attorney General Sellout, once this one gets inked, the gloves are coming off for the following servicers and they are going to be pursuing their cases with a fury:

America’s Servicing Co.
Aurora Loan Services
BAC Home Loans Servicing
Bank of America
Beneficial
Chase
Citibank
CitiFinancial
CitiMortgage

Countrywide
EMC
EverBank/EverHome Mortgage Company
Financial Freedom
GMAC Mortgage
HFC
HSBC
IndyMac Mortgage Services
MetLife Bank

National City Mortgage
PNC Mortgage
Sovereign Bank
SunTrust Mortgage
U.S. Bank
Wachovia
Washington Mutual
Wells Fargo
Wilshire Credit Corporation

 

CNN STORY ON FRAUDCLOSURE SETTLEMENT

 

2 Comments

  • D says:

    When are people going to start putting the heat on these judges that are blatantly not upholding the law?? That is only point of power. If they are not federal they are elected. Seems like people need to start reviewing these judges on sites like Angieslist or yelp or some other similar site with a notation behind their name that reads BANK JUDGE. Example, Jane Doe (BANK JUDGE, Dade County Florida). Then when the next election comes around a person can easily search Bank judge, Dade county and get a list of people not to vote for. Just a thought.

    • Jeff Redwein says:

      All respect to D, but you apparently didn’t read what Mr. Weidner wrote nor comprehend what it implies. No inside-the-box fix is going to be equal to justice for the millions who fraudulently have been screwed out of their homes, and financially and emotionally wrecked, nor approach accountability for the main perpetrators of this grandest of all larcenies in U.S. history. Only a grassroots movement of resistance on the basis of asserting housing as a human right – for the foreclosed and the rest of us – will be able to pull that off, and while we see pockets of resistance in many cities across the country, there is so far no sign of a unified movement of the kind we’ve seen in Europe, Canada and other parts of the world. What we need is for the people at the center of this crisis, the foreclosed upon, to first stand up for themselves and to transition to community-based organization and struggle, but the vast majority of foreclosed upon people seem to prefer walking away rather than standing up and fighting, because in their eyes this isn’t seen as a social justice but rather as a personal issue, essentially as a reflection of their individuated failure to hold onto their little slice of the American Dream pie. The only failure, however, is an ideological failure; it’s a failure to see through the dominant corporate/governmental propaganda that pins the blame on the foreclosure victims rather than on those who created this crisis, and to grasp a narrative which gives priority to working class needs.

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