NY Times | From East and West, Foreclosure Horror Stories

From East and West, Foreclosure Horror Stories

THE authorities have fallen silent lately about a possible settlement over foreclosure abuses at big mortgage servicing companies.

The talks began in earnest last March, and people keep whispering that a deal is nigh. But last week, a spokesman for Shaun Donovan, the secretary of Housing and Urban Development and a lead negotiator, said that there was nothing new to report.

That’s probably not a terrible thing. After all, no deal is better than a bad deal. State and federal authorities jumped into these talks without conducting serious investigations into foreclosure shenanigans. Why strike a deal — one that would, say, shield banks from new litigation over toxic loans, flawed securitizations and the mess at MERS, the registry that has made such a jumble of land records — without knowing what happened?

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3 Responses to “NY Times | From East and West, Foreclosure Horror Stories”
  1. Pamela Edwards says:

    Yes lies it’s been going on for 20+ years this didn’t just happen.They got away with it because in thier world of high finance they are considered to be gods.Right wrong or otherwise this is what has been happening.Due to the amount of time this has been allowed to run moon mad are why all property deeds and so forth are so messed up.I had this very exact thing come up back in 2000.Told people there was something very wrong going on but people looked at me like I was nuts.Now 12 years later they are coming back and saying :we should have listened to you.I agree with you on all points.

  2. Fury says:

    all of us here have suffered foreclosure horror stories.

    there needs to be a moratorium on all foreclosures and evictions NOW!

  3. lies is all they tell says:

    forged signatures on notes, rubber stamp endorsement signatures what else can wells fargo come up with to lie and steal my house. how does their alleged servicer all of as sudden now they own the loan and are able to file a foreclosure complaint against me? why does the court the usa allow banks to file foreclosure complaints with out proving they are the owner of the note and can do this. why put so much an the American people. if i didn’t know all this info from researching for 2 years i to would not be in my home right now. but the sad part is imagine joe the plummer couldnt make his mortgage payment because of a job loss or health issue and asked his bank for help and they told him not to pay his mortgage in order to qualify for a hamp loan so joe the plummer does what the “bank” says sends in paper work, and then joes file is moved out of review, joes paper work he faxes and mails is lost and now joe recieves a NOD is joe going to hang around waiting for foreclosure ???

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