Foreclosure Defense Florida

The Feds Settle With Countrywide Mortgage- Consumers Get Screwed

Countrywide Mortgage was among the worst of the actors in the Great American Mortgage Scam.   Countrywide was one of the first to be taken down when Attorneys General from 13 states, after finding the company engaged in grossly abusive practices against consumers, entered into the first weak and ineffective settlement with consumers.   The AGs found that hundreds of thousands of consumers got screwed by Countrywide and set up a program where consumers who got screwed were supposed to be able to modify their mortgages.   Who knows exactly how many got modified but my instincts tell me not very many.

angelo-mozilo-NYTimes-imageThe Fat Cat board of directors of Countrywide walks away and no one is made to pay….except the American people.   Bank of America bought most of the Countrywide assets. (At least that’s what has been reported. And if so, why do we see other banks like Bank of New York filing foreclosures?) Anyway, Bank of America, using our money, has been spending probably millions of dollars to defend Angelo Mozillo, the former Chairman of Countrywide mortgage….and yesterday it was announced that Mozilllo will walk away with a measly little fine.

It’s a totally corrupt country we live in.

Read the New York Times Article Here

2 Comments

  • And let’s not forget, many of the other Countrywide executives started their own new company: Pennymac Loan Services (and Pennymac Loan Trust).

    There’s that “TRUST” word again, which is starting to mean: Bucket of Mud.

  • speakout says:

    Maybe it’s time to bring charges against our so-called government “leaders”, house and senate representatives, et al for treason against the American people because they are derelict in their duty to “protect and defend” the constitution, from enemies both foreign and domestic. They have failed to protect our rights, they have allowed Wall Street to run wild and destroy our economy while they all get fat from the spoils. They are in bed with the very banksters that are stealing our homes. Campaign kickbacks keep the roulet wheel spinning while the people get raped and pillaged. It’s disgusting. The banksters have always wanted to rule the world, we can’t let them get away with this in America. Who will look up to us now? Americans unite and fight. Forget the party devision game they pigeon hole us into, so this theft goes on behind the political scene. It’s revolution time and this is war – people vs the banksters. It’s time to get an accounting of where all the TARP funds went. The banksters all got paid from the credit default swaps game 30 x the loan amount – calculate that! This was systematic fraud and theft.

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