Fraudclosure | Bondi: Don’t Cut Homeowners’ Mortgage Principal

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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Comments
77 Responses to “Fraudclosure | Bondi: Don’t Cut Homeowners’ Mortgage Principal”
  1. Ben says:

    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..

  2. 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

  3. joy says:

    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.

    • TheHutMaster says:

      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.

    • Ben says:

      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

  4. Fury says:

    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.

  5. obama says:

    PEOPLE THIS IDIOT IS AN IMBECILE..STOP PAYING YOUR MORTGAGES..YOU’RE ALL BEING SCAMMED…

  6. angry & NOT TAKING IT! says:

    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.

  7. angry & NOT TAKING IT! says:

    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.

    • Catherine Mc Manus says:

      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 !

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