The Settlement Would Require Massachusetts, Nevada and Arizona, Which Have Sued Banks Involved in the Talks, to Settle those Cases

“The settlement, meanwhile, would also require Massachusetts, Nevada and Arizona, which have sued banks involved in the talks, to settle those cases, one of the people said. Nevada and Arizona each sued Charlotte, North Carolina-based Bank of America over mortgage-servicing practices, accusing it of misleading consumers, while Massachusetts sued all five banks that are part of the proposed deal.”

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Foreclosure deal deadline arrives, not all states are yet on board

Feb. 6 (Bloomberg) — States that balked at bank liability releases in a proposed $25 billion nationwide settlement over foreclosure practices must decide by today whether its mortgage relief and reforms are worth the legal claims they’ll give up.

While some states have already announced their intention to sign the deal, others including California Attorney General Kamala Harris have yet to publicly commit in part due to terms that protect the banks from future litigation. Without Harris, the deal’s value will drop by several billion dollars, according to a person familiar with the matter.

The agreement is “beyond fixing,” said George Goehl, executive director of National People’s Action, a network of community organizations which advocates for fair lending and affordable housing.

“People are very disappointed in what this is going to be both in terms of dollars and release of claims,” Goehl said in a telephone interview. “We’re giving away the store.”

Rest here…

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4closureFraud.org

Comments
7 Responses to “The Settlement Would Require Massachusetts, Nevada and Arizona, Which Have Sued Banks Involved in the Talks, to Settle those Cases”
  1. Ali says:

    Sorry about hat, I’m just so angry!

  2. Ali says:

    I guess the AG’s must us for fools too!! Whait till there underwater “responsible” home owners re-fi with the Gov. Then they will see what all us have been going though. Wonder what they will call them?

  3. Fed Up In Mass. says:

    ^&&*^&^&%^#&%#^&%$&^@%%&^#%*q@&^*q&^$%q^&@^w%$*w*!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    Please don’t cave MASSACH– USETTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  4. cloud97408 says:

    Settle WHAT???? There hasn’t been an investigation!!!!!!

  5. lvent says:

    There is no fix for massive fraud…..except to commit more fraud…!!! These AGs are ATTORNEYS and they KNOW THIS….THEREFORE, THE AG’s WILL BE GUILTY OF AIDING AND ABETTING THESE CRIMINALS IF THEY SETTLE WITH THESE CROOKS..! There is NO MONETARY FIX for $1.2 QUADRILLION IN DERIVATIVES FRAUD committed by these financial institutions…… There is NO LEGAL FIX for the ORIGINATION FRAUD..! THEREFORE, THE CROOKS MUST RESCIND..CLEAR TITLE BACK TO ALL OF US AND RETURN THE STOLEN HOMES AND WEALTH TO THE PEOPLE….OR ALL OF THE POLITICIANS, THEIR MINIONS AND COHORTS MUST BE FORCED TO RESIGN IMMEDIATELY…BECA– USE THEY ARE ADMITTING, THEY ARE TOO CORRUPT TO DO THEIR JOBS..!

  6. Barbra Orr says:

    This is very sad.

    • Bobbi Swann says:

      So does anyone know if this is a done deal today??????? Any word from CA? There is absolutely no hope with the AG here in Florida. We are hanging by a thread in the hopes that some of the others will keep to the truth and plow on through investigations. @ Barbara Orr – yes, you are right….this is very sad. If it were not for such great people on this site and the creators most of us would still be living in the dark, and it is this light that they fear so now we must BRING IT ON…….

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