Bondi: Don’t cut homeowners’ mortgage principal
Bondi and several attorneys general from other states say principal reduction oversteps the mission of the group that is negotiating with the five banks, and she fears it could turn into a free-for-all of underwater homeowners. The Mortgage Foreclosure Multistate Group should stick to addressing the wrongdoings of loan servicers, she said, instead of trying to dictate how lenders modify problem home loans.
Pushing lenders to forgive part of their mortgage holders’ debt could encourage even responsible homeowners to stop making payments on their loans, in the hope they can eventually get their bank to erase part of their mortgage, Bondi wrote in a recent letter to the head of the working group.
“Some homeowners may simply default on their loan and use the States’ agreement to obtain a principal reduction — whether or not they actually made an effort to maintain their mortgage,” wrote Bondi, who serves on the negotiating group’s executive board.
She called it a potential “moral hazard” that “rewards those who simply choose not to pay their mortgage — because they can simply take advantage of lenders‘ obligation to honor virtually automatic principal write-downs.”
You can check out the article in full here…
Makes ya feel all warm and fuzzy, doesn’t it?
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4closureFraud.org
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All of you are people..Please work on freedom documents..It works. Let learn..dont pay anyone but a notary dies dollares then send docs to your gov and and and….
Learn…. grow..be free..dont pay for learning do it yourself..
OK, she can not be this dumb does she think that if properties keep going down in value people are going to keep paying their mortgage? I bet it will be more people willing to pay their mortgage IF THEY GET PRINCIPAL REDUCTION THAT IF THEY DON’T. (that if nothing Is done, like principal reductions) and properties WILL keep going down in value MORE PEOPLE WILL STOP PAYING THEIR MORTGAGE IF PRINCIPAL REDUCTION ARE NOT APPLY
And why do you think so many homeowners are upside down dear Ms. Bondi? That’s right, let me answer that question. Because 6 million homeowners irresponsibly took out loans they couldn’t afford, according to you. Well you not only flunked Economics 101, you flunked Sociology as well. You see MS Bondi, many have lived in their homes over ten years and never pulled out equity and their homes are upside down. Why is that? Because of something called blight and if its not full blown blight, its simply home values have fallen 60%. And why is that Ms Bondi? Because of FRAUD perpetrated against the American people by Wall ST and the banks! Oh you can also add forgery, perjury, deceptive business practices , falsified documents and the list goes on. Why shouldn’t there bea reduction of principle? The American people didn’t cause home prices to fall. Wall St and the banks did. They stripped the middle class of millions of dollars of wealth in the form of home equity. Stand up in front of the American people and sing your pitifully song. They’ll run you out of Dodge. Now go smoke your pipe and stay oblivious.
Well said @joy.
The facts you state are on target although NO ONE will admit to these FACTS.
How can 13 Million+ people, nation wide, be Irresponsible? I think NOT. Shut down the criminals!
The crimes these scumbag banks commited MUST BE ADDRESSED.
Why our Government is participating in these crimes calls for a mass recall of the scum like bondi,
I also believe BOA and JP Morgan need to GO TO JAIL NOW.
“Fight The Good Fight”
BRAVO…. GOT TO LOVE YOUR COMMENT…..PERFECT….THANKS FOR SAYING IT ALL RIGHT TO THE POINT AND THIS NEEDS TO BE SENT TO HER TO TELL HER TO GET THE ‘ ACT ‘ TOGETHER…SHE HAS A HABIT OF SIDING WITH THE BANKS…. SIDING WITH FRAUD….NOT GOOD FOR A CHIEF LAW ENFORCER….IT’S THE FRAUD ISSUES THAT SHE NEEDS TO CONFRONT….THE ILLEGAL SHIT THAT NEEDS TO BE THE MAIN ISSUE…NOT THE PRINCIPAL BALANCE WRITE OFF’S…….ONCE THE FRAUD IS CONFRONTED AND THE LAWS ENFORCED…WE WILL NOT HAVE TO WORRY ABOUT NO CRAPPY BALANCE….DOES SHE NOT KNOW THE LOANS WERE PAID FOR AT THE CLOSING? THIS IS DISGUSTING THAT A AG DOES NOT KNOW RIGHT FROM WRONG. MAYBE SHE TOO WORKS FOR THE MILLS LAWYERS ON THE SIDE….SHE SURE THE HELL IS NOT WORKING FOR THE PEOPLE OF fLORIDA.
Please send her a letter stating your position and bring her to court..if people sued her she will be out sooner.
Ben , with all rights reserved
she’s not looking so perky.
it must take out a lot of a person to betray the voters who got her the gig.
stop fraudclosure.
punish the criminals and not the irvictims.
HUTMASTER…. i AGREE….BOA AND JP MORGAN/CHASE….HAVE GOTTEN AWAY WITH ENOUGH FRAUD…..ARREST’S ARE WAY OVER DUE…..ACTION NOW WITH THE HANDCUFFS…..WE ARE SICK AND TIRED OF THIS WHOLE MASSIVE PONZI FRAUD SCHEME DONE AND PROVEN ..MS. BONDI NEEDS TO BE RECALLED…SHE LACKS QUALIFICATIONS TO BE AN ATTORNEY GENERAL…..AND CERTAINLY HAS NO KNOWLEDGE OF WHAT AN ATTORNEY GENERAL POSITION CALLS FOR. .SHE WAS NOT VOTED IN TO SHOW FAVORITISM TO THE CRIMINALS….KINDA BACKA$$WARD IF YOU ASK ME……MAYBE SHE NEEDS A FEW MORE PUFFS ON THE PIPE AND WILL DECIDE TO LEAVE ON HER OWN.
PEOPLE THIS IDIOT IS AN IMBECILE..STOP PAYING YOUR MORTGAGES..YOU’RE ALL BEING SCAMMED…
oh yea… the $$$ the servicers $ banks will pay in fines – her & the other AGs will just pocket it, at that point just let the banks KEEP IT. i told everyone they would sell us out @ the 1st chance.
hmm… i hear there is a place online you can have a notice of default filed on bondi’s house.
a principle reduction for can start at the knees you can stop choppin when you hit the waste… oops its all waste.
You are so right-BONDI PROBABLY does not even own a home…….if she does I betcha she never has seen or read her own documents, contracts, Deed-all of the Allonges, Assignments or Satisfaction.
Bondi dosen’t know squat-maybe Lisa Culloro (sp)Conflict of Interest is coaching her….but we know she is a Bank SUCKER. She is sucking up whatever the banks/Servicers want.
BONDI does not have the intelligence required to fully understand or a brain large enough to take in all the info required to recognize the “mistakes” & “notary process” made by Banks.
No compassion, ethics, morals, no sense of “Duty to the People”.
Pam Bondi – worst Attorney General Florida ever had.
Her weekly newsletter only confirms her STUPID Priority-BATH SALT BABE !
This was written by the Economic Crimes Division….I seem to remember Pam Bondi had a problem employee in that Division.
Three times the mortgage and other penalties, is the amount every single foreclosure has coming. Oh yea and the banksters in prison and Pamela Bondi too if she breaks the law to help the banksters.
Ms. Bondi has not been reading the papers as billions of dollars in fines are being imposed on the banks by our government for fraud. She is maintaining a naive view that we have a state full of losers who should be punished because of the set-up created by the banks to offer securities(our homes) and make obscene profits. Florida needs to move into the 21st century by having people in our government who read the paper and realize their personal lust for political appointment is transparent. Ms. Bondi clearly has a vision of her importance in national politics and hopefully, she will be exposed as yet another self serving politician,
MS. BONDI’S OFFICE IS IN THE CAPITOL….AND THE BANKSTERS ASSOCIATION MAKES THE CAPITOL THEIR ‘ HOME BASE ‘….LIKE A HOME AWAY FROM HOME THING……THEY ARE BUDDY BUDDY WITH THE LEGISLATORS….AND CAN JUST WALK DOWN THE HALL TO MS. BONDI’S OFFICE TO HAVE A FRIENDLY CHIT CHAT…MAYBE EVEN GO TO LUNCH…OR WHATEVER…….THE LEGISLATORS HAVE SHAFTED THE PEOPLE OF THE STATE OF FLORIDA…WHY WOULDN’T MS. BONDI DO THE SAME….REMEMBER SHE IS A FOLLOWER…NOT A LEADER….THE WHOLE DAMN CAPITOL NEEDS TO BE EMPTIED OUT….I REALLY CAN’T THINK OF MUCH GOOD THAT COMES OUT OF THE CAPITOL……EXPECIALLY AT THIS TIME.
How about the BAILOUTS, and not just 2008? What the fuck were they? Why are idiots always in postions of authority?
BECA– USE THEY ARE ALL PROFESSIONAL LIARS.
I have been fighting this fight since the day over 3 years ago my home was SEIZED illegally from David J Sterns Law Firm and CHASE Bank. I knew back then something was terribly wrong. Now, that I have dedicated my life in to helping those AVOID the pain and suffering I went through, there is more CORRUPTION that we may never get to fully understand. AND the real issue of CORRUPTION is people like her who will back it for her own FINANCIAL gain to be in the position she is in. DO you really think any of them go into politics to really protect and serve the people??? The GREAT news is that Social Networking and Internet is a VERY VERY powerful tool to fight back…and as we all can see with Foreclosure Fraud’s efforts…there are MANY of us who are fighting for the right thing…AND let me just say this…EVERY AMERICAN paying or not paying a mortgage should be OUTRAGED. Securitization of mortgages was the biggest SCAM ever…do your homework…do your research tax paying AMERICANS before we judge others…What do you think about this…ONE mortgage was sold 20 times…YES 20 times within a 24 hour period of time (100% of the mortgage, not a fraction like some are) and they made millions of dollars on this one VERY ILLEGAL SEC transaction and on the backs of AMERICANS…show the people the PROOF and maybe people will start listening and believing that people like her are FULL OF SHIT….we are on a State level and we WILL NOT STOP until it reaches the FEDERAL level here in Florida…you could easily kill people in the past (and we all know that can happen)…but not any more…too many of us are fighting…KEEP UP THE GREAT AND AMAZING WORK!!!! PRODUCE THE PROOF and they MUST LISTEN!!!! We have it…you can find it…not that difficult….
Well said. It seems all the experts have been through the mess,
Our research, coupled with the power of the internet, affords US a Fighting chance to use our voice in a
group.
This is our ONLY chance to suceed.
“Fight The Good Fight”
i agree, HutMaster.
the internet is what enables us to get real time news by citizen reporters.
i have protests only because i hadn’t even heard that they were happening until
after the fact.
what do you propose?
how can we organize a nationwide or global protest?
what are you thinking?
i have missed protests because i didn’t know about them ahead of time.
or have been too broke to attend.
how sad is that?
Doesn’t it amaze you that with all the Congressional hearings about this mess, they have yet to invite homeowners to testify?
I could deliver several hundred.
Great Idea… We need to get that done @Tim Bryant.
“Fight The Good Fight”
I only see Elijah Cummings or Ron Paul open to that idea…
I may have an ole highschool friend back from the very trail we are discussing.
Any idea whom I may be reffering too?
“Fight The Good Fight”
Whom would that be? I give up….you got me…..LOL
Florida???
“Fight The Good Fight”
Pawlenty?
Charlie…
Crist?
I will just say this, I have known this Man for a long time. He followed my “wireless software” development throughout the late 80’s.
He also directed me to the Stat of Florida Weather Office, which adoped our Aletrs to the State of Florida EOC Offices.
To That end, I plan to contact an ole Friend with some serious questions.
I TRUST I will be given an oppertunity to SAVE OUR COMMUNITIES!
“Fight The Good Fight”
Even though I live in MA, I have your back. If you need any assistance in revealing the crimes being committed nationwide by these institutions. It isn’t just the IMF that is raping people….
i AM COLLECTING TALLENT MAN, We need to Save Our Country.
I have much beter things to do, although I am ON THIS MISSION, as I am PISSED beyond belief.
We are a group of Attorney’s (THAT DO CARE) and Engineers.
The game has only begun and now is OUR TIME TO UNITE!!!!!
“Fight The Good Fight”
Mr, Bryant,
Our Song Bro!!!!
http://www.youtube.com/watch?v=FIYv-uvsPOI&feature=player_detailpage#t=27s
I Keep My Magic in My HEART!
“Fight The Good Fight”
http://www.youtube.com/watch?v=Pf7vcER1_mc&feature=related
“Fight The Good Fight”
OH YA..IT AMAZES ME…BUT WHAT PISSES ME OFF IS THIS WHOLE COUNTRY IS BEING IGNORED BY CONgress AND OBAMA….WHAT ARE WE..CHOPPED LIVER?????? THEY DON’T WANT TO HEAR FROM THE PEOPLE….CA– USE IT WILL BE THE TRUTH…AND THAT IS SOMETHING THEY CAN NOT HANDLE AND EXCEPT….IT WILL RUIN THEIR PLOY.
OK TIM AND HUT…YOU GOT ME GOING…I GOT GOOD VIBES READING WHAT YOU WERE SAYING…..I WOULD SAY YOU ARE ON THE RIGHT ‘ TRACK..’……I CAN HEAR THE WHISTLES BLOWING NOW…..THE TRAIN IS ON TIME…..AND THE TRAIN IS PACKED WITH HOMEOWNERS….PISSED OFF HOMEOWNERS….WE WILL NEED MANY TRAINS TO GET TO OUR DESTINATION……ARE YOU FOLLOWING ME? .WE WILL FIGHT THE GOOD FIGHT…..BUT WE WILL WIN….IT WILL BE VICTORY FOR ALL…….BLESS AMERICA…SHE IS A PROUD COUNTRY.
sometimes i think about running for office in order to help people.
i can’t because my credit has been ruined by the fraudsters.
i remember talking a field trip to sacramento, CA (the capitol.)
even at age 12, i thought ,
” Good Lord. these are a bunch of old white men gasbags. they know nothing
about the People of California”
it was disturbing. the phony, stiff posturing. it was not real life.
foreclosure crimes is THE human rights issue of today.
i trust very few of our elected officials.
stand up for the People and help them or get the hell out of the way.
we are not going to let these bank criminals get away w/ their crimes.
right on. sister.
Pam Bondi,
I voted for you in good faith that you would be good for the people’s rights of this State and not for the banksters of the country. I do not know where you are getting this information about people just not wanting to pay for their mortgages. maybe 15 % or so but not the majority You really need to talk to the people who are loosing their homes or have lost their homes because of morfgage fraud etc. In my case fraud all over the place starting with signing of application, document, inflating my earning and much more. I have gone thru all of my lifetime savings (my mothers money she left me) stocks, to keep the property. My husbands too. The payment went up close to $5,000. I am a retired office steel worker and in my 70’s. I am broke because of these wonderful banksters ,brokers and realtors etc. Tried to have AG listen and just get the run around from all. I always wondered how could I have been able to get these property, I only found out the fraud when the AG Reg. office went to the brokers files and confiscated them and sent them to me, Can you imagine they signed my name to all the documents… Hud etc. What a surprise. When my husband asked Bernard how could he do this, he said his wife has expense taste and I bet your wife is sick. Needless to say what my husband wanted to do. The relator showed us his new sports car and said see what you bought me.
How can you sit in your glass house and come out with what you just said. I don’t have to worry about hearing from the AG they don’t want to get involved.!!!!
You better back track what you said Pam, we are not in that 10-15%. I certainly hope you wake up and help us.
You cannot imagiine all the good people who just want to keep their home but have no money..
I bet she got a principle reduction…
TIM…AND ALOT MORE TO GO WITH THE PRINCIPLE REDUCTION….BY THE LOOKS OF HER PICTURE…SHE HAD A ROUGH NIGHT…….
it is all about the Big Lie, elizabeth.
homeowners have been defrauded. the banks and their PR shills try to blame the victims.
you and your husband are not alone.
try to hang on and fight this injustice.
RECALL RECALL RECALL..PETITION COMING SOON ! BILL TO BE INTRODUCED….
NO Thank God I DID NOT VOTE FOR BONID ! and I know of a bill trying to get to the floor regarding
RECALL VOTER RIGHTS-(not just for Bondi ALL FLOIDA ELECTED OFFICIALS) as soon as the petition and site is up I will post it here>
O M G
I just go0gled this about more fraud in Texas
http://www.bloomberg.com/news/2011-02-08/citigroup-settles-as-bankrupt-homeowners-fault-use-of-mortgage-assignments.html
With this company being accused in court, of coming up with fraudulent documents.
http://www.orionfgi.com/
At is perfectly clear who’s side of the fence she is on.
My My My… She sounds like she just left a bankster orgy.
It is like saying to a Bank Robber “We Know You Stole IT” but you do not have to give it back.
This little BITCH (bondi) speaks to us like we are kids,
Well Pam Bondi….., FUCK YOU HARD!!!
We are coming after you and anyone else in Government that refuses to protect the Great State of FLORIDA.
“Fight The Good Fight”
i SECOND THE MOTION…..JUST LET ME KNOW WHEN WE START…….
Dont say fuck you hard..she will love to be f… but do what youshe dont like..fuck her……???
God forbid Bondi and her AG cohorts should suggest to the perpetrator banks that they make proper restitution for the financial ruin they created, including the bail out of underwater homeowners. I notice that the various state and federal agencies are getting their millions in “fines” from the banks. How much more of this fraud are we supposed to take from these government and bank thugs. It’s always the same BS: the politicos get their piece of the action and the taxpayers get to foot the bill.
Let me get this right, so they don’t want them to cut the principle balance as a fear it will cause the responsible payers to want to be delinquent to benefit from this? Hmmmm, but they thought it was such a great deal for the F.D.I.C. to reimburse poor little innocent One West Bank for their foreclosures. Wake up idiots, it is the responsible ones that are getting foreclosed on. Yes their is a few people down on their luck because of job losses, bad economy etc but I can tell you first hand that this has happened to me and I have never been late on a payment. Their thinking is so far off this planet its sick!
Yup, it is called GOLDMA SUCKS Anaylitics…..
“Fight The Good Fight”
She obviously believes her own bullshit.
But let’s reward banks that foreclose when they don’t even own the loan…
Those bad homeowners are, you know, criminals by nature and you can’t trust ’em.
She’s got FL residents backs…..with a knife to it
what pam bondi is doing is
morally reprehensible.
she was elected and charged w/ protecting citizens of florida from criminals.
she has failed.
she needs to resign or be recalled.
she didn’t even know her asst AG was moonlighting for f/c mills.
or did she?
YES SHE DID….THIS ATTORNEY ASSISTANT WAS FOUND LAST YEAR TO BE WORKING FOR THE DEFAULT FIRM…THE SAME LAW FIRM THE LAST AG FILED SUIT ON…SHE SAID SHE PROMISED NOT TO DO IT ANY MORE…LOL….SO THAT AG LEAVES AND MS. BONDI FLOATS INTO OFFICE…SO SHE KNEW THE WHOLE STORY AND SHE LET THIS WENCH CONTINUE WORKING IN THAT SAME OFFICE….THE CRIMINAL DIVISION OF THE AG….BOTH ARE SLIM BAGS.
The Justice Dept should be INVESTIGATING this type of bribery scandal ………..
I think the people of Florida are suffering horribly at the hands of these corrupt politicians. It is a national disgrace. Non-judicial foreclosures should be ruled illegal and unconstitutional by the Florida Supreme Court.
I wonder if France still has the guillotines available. We can buy them, dust them off, and use them in MERS name as sole nominee on our behalf, strictly to hold legal responsibility, for any subsequent actions which may occur, but will not be disclosed…..LOL
no guillotines … but i hear DSK [imf creep] needs a date .. sign bondi up!
I vent…..we are NOT non-judicial……..we are JUDICIAL……(the banksters association TRIED to make it non-judicial last year)….but foreclosures ALL go thru the courts….AND THAT IS ANOTHER CHAPTER IN THE BOOK OF ROYAL SCREWINGS. YES…IT IS A DISGRACE TO THE STATE AND THE NATION. WE WERE KNOWN FOR GROWING ORANGES…NOW WE ARE KNOWN FOR A COMPLETE CORRUPT STATE……THE SUN MAY HAVE FRIED THEIR BRAINS WHILE PLAYING GOLF BETWEEN SESSIONS….PLAYING WITH THE BANKSTERS. IT HAS BECOME A SICK GOVERNMENT IN FLORIDA….ALL NEED TO BE RECALLED….THE WHOLE DAMN SHOOT’EN BATCH OF THEM…
I think Yves Smith (naked capitalism) had a recent article on the underwater “moral hazard” myth and shredded it completely. Wish I could find it. I’ll keep digging.
pam bondi,
help the people of your state.
stop continuing the victimization of the VICTIMS OF FRAUD.
you are a disgrace.
i hope you are recalled.
F pam bondi. Get her out of there now!! She saw the outcry and the fraud and says its not her place?? Well she is right about oNe thing–she is in the wrong place. Get her out. She is in on it. She must be investigated thoroughly before it is too late for all the homeowners across florida. She is an evil bitch. The DEVIL got her too. Sick state. Sick world. Deb
you can’t mod a fraud.
this whole 50 state AG consortium is a joke.
i believe some of AGs get it and there are others like tom miller and pam bondi who are sell-outs to the robber banks.
fraud , people. FRAUD!
the AGs are supposed to fight fraud — not bow down to it.
AGs, help defrauded homeowners!
MS. BONDI APPARENTALLY IS NOT WORKING FOR THE PEOPLE….THE BANKSTERS PUT HER INTO OFFICE….AGREED…..RECALL NOW….SHE IS A FRAUD….SHE HAS PROVED IT IN A MATTER OF A S HORT TIME IN OFFICE AND THAT IS PROOF ENOUGH. WE NEED TO START RECALLING ALL WHO HAVE GONE TO THE SIDE OF THE CRIMINALS….THOSE WHO HAVE SHAFTED THE CITIZENS…..NOW WE MUST PUT THE KNIFE IN THEIR BACKS….BUT TWIST AND TURN IT SO PAIN CAN BE FELT…JUST AS THE HOMEOWNERS HAVE FELT PAIN. A PAIN NEVER TO BE FORGOTTEN………
how do you start a re call she needs to be we have all written to her and to no avail no help florida is deep dog dodo and noone will step up and help not the reps, santors, county commissioners , sherrifs they are all allowint the perpatration continue
So, banksters who committed fraud in loan origination, securitization, servicing and foreclosure should not be prosecuted and they should not have to reduce their fraudulent claims. I wonder how much these AGs were paid to be so friendly to the banksters, don’t you?
Oh, we should also ignore the fact that fraudulent acts give rise to the affirmative defense of unclean hands which bars equitable relief such as foreclosure, and if you win on that point, then the note is no longer secured and can be wiped out in bankrutpcy without giving up your home.
Why is it that the AG’s are doing the negotiating for the banks? The states are victims of this mess as much as the borrowers. How dies it benefit the states to have millions of out of work and homeless or underwater borrowers/homeowners.
And what is the pony of all this if the title issues are not addressed?
This whole mess has been an awakening. So many convoluted interested skew the original goals.
Just an unbelievable mess!
Why do the AGs side with the banks? It is because they got payola, bribes and plenty of campaign contributions, too.
All prosecutors are crooked P.O.S!
Somehwere on this site I recently read a North County Recorder-named Thigpen & another County Deed Recorder did inventory and found thousands of UNPAID RECORDING FEES. County Court Clerks are taking notice-there was a letter sent by many County Recorders & Clerks to officially request a “SEAT AT THE BARGANING TABLE”. They have the facts and figures of all the illegal MERS & CLOUDED TITLES
Sorry I can’t link you- so much good info on this site-updated so often !
The other Recorder is John O’Brien from MA. Actually, all the recorders in MA are going through their files now. Mr. O’Brien is now the lead on this.
There is a ROD in MI that is now doing the same thing.
Considering there are more still paying their mortgages, even though some know their mortgages are up side down, she needs to take a hike. The borrowers are not the ones who caused the values of their homes to become upside down.
The people who started and became involved in this scandal are the ones to be held responsible.
If more start to walk away from their mortgages because they’ve learned values have been manipulated, as well learning the product they’ve been purchasing is not and never will be without defect.
The borrowers are not the people who destroyed the paper histories of millions of pieces of properties throughout the country, the people who dreamed up and constituted this nightmare are the guilty.
If the real estate industry is destroyed to the effect of any home not being considered any worth and can’t be sold should rest solely on the shoulders of the perpetrators.
Who is this Bondi beotch working for? It certainly ain’t “the people”. You folks in Florida should recall her, along with your crappy governor. Of course I can’t throw stones, look what I have here in California – bankster-owned politicians, just like yours…haven’t heard a peep out of Kamala Harris, despite SEVERAL complaints about MERS and the pretender-lender. Not one word…