Americans who have been filling out the forms sent to them by the government as part of the fraudclosure settlements who think they will have any practical impact on their own individual cases are in for many rude awakenings when their homes are stolen out from underneath them.
True (maybe?) homeowners may see a few dollars in the mail as part of the settlements, but what the headlines that scream, BANKS REACH RECORD SETTLEMENT do not cover is the fact that what he headlines do not report is that one very real consequence of the settlements is:
BANKS WILL BE MOVING TO FORECLOSE FASTER THAN BEFORE!
You didn’t read that in the papers did you? The helpful government official who signed these deals in secret with the banks don’t bother to make one of their talking points that outcome of foreclosure now….do they?
From HuffPost:
It must’ve been like old home week when the old gang of Wall Street and Washington insiders finalized a couple more cushy settlements last week.
Everybody knew the drill: Ignore the potential criminal charges and agree on settlement figures they think the public will swallow — figures that are big enough to sound impressive but far smaller than the banks’ ill-gotten gains. They’ve done this dozens of times before.
But there was an empty chair at the negotiating table.
Bank of America was there, as it has been so many times before. So were the other too-big-to-fail banks. Representatives from the Attorney General’s office were undoubtedly there, too. The Attorney General was a high-priced Wall Street attorney.
Dont’ you wonder who that empty chair belongs to? I read the related article and it nailed it right on. Keep fighting MATTT this is one of the better websites out there on foreclosures and there is only a handful of websites that really get it. There is REAL fraud and LOTS of REAL FRAUD.