And that’s why I have been paying particular attention to the BANK OF AMERICA $8.5 BILLION SETTLEMENT! The bank’s gonna write a big fat check, that’s good….right? Wrong, wrong, wrong. The 50 state AGs are nearing a settlement, that’s good….right? Wrong, wrong, wrong.
The problem is there is noone sitting at these big fancy conference tables speaking for the American people, for the homeowners living in homes but unable to get a modification or fair break from the servicers. What these deals do provide is outsized benefits to all the Fat Cats sitting in the big tall buildings in large and opulent rooms.
Read this article carefully. Bank of America thinks this deal is going to mean quicker foreclosures. They think they’re going to ink this boondoggle then somehow they’re going to press through and throw homeowners out more quickly. What they forgot about is that there are dedicated and passionate attorneys working in humble offices all across this country who wake every single morning, committed to the challenge of protecting their clients and keeping them in their homes.
Hey BofA, you think you’re going to kick our people around? Bring it on. Or better yet, give us a seat at the table. Let my people pay. We’re reasonable. Talk to us. Mediate in good faith. Let us be part of the solution. Or we will be a real big problem.