Fraudclosure | More Questions on Mortgage Relief

More Questions on Mortgage Relief

In February, when five big banks settled with government officials over evidence of foreclosure fraud, the deal was greeted with skepticism. The banks agreed to provide $25 billion in mortgage relief to hard-pressed borrowers, $17 billion of it from reducing the principal on troubled loans. The government considered that a victory, because banks resist principal reductions, but banks have a reputation for promising amends that never seem to get made.

A new report this week by the Office of Mortgage Settlement Oversight does little to erase the concern. The report shows that from March through September, more than 300,000 borrowers received $26.11 billion in “consumer relief.”

But there is a real problem with that number, which is what the banks say is the total value of all forms of aid they provided in those seven months. It has not yet been audited by the monitor, and, when it is, only a fraction will count under the settlement. Some forms of relief, like principal reduction, count for more than other types of aid, like loan forbearance, while some arrangements that the banks consider aid, like certain trial loan modifications, will not count at all toward the settlement.

Rest here…

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4closureFraud.org

Comments
4 Responses to “Fraudclosure | More Questions on Mortgage Relief”
  1. charley rice says:

    STOP giving these Fiction corporations your homes and these Prima Farcie Courts the opportunity to steal your home even they don’t have NO JURISDICTION, only to hood wink the AMERICAN people.

    Only a FLESH AND BLOOD is a legal party in interest NOT BANKS who also pay the courts with MBS & Judges retirement is a “CONFLICT OF INTEREST”

    THE COURTS ONLY DEAL WITH CONTRACTS & all the Homeowners contracts was broken, WITH WALL STREET, and with the Subprime banks that NO LONGER EXIST, and their CLOSED trust that the TRUSTEE are HIDING IN COURTS who claims that they are the real party in interest is also FRAUD.

    You can’t bring back a subprime bank from the dead.

    IT’s time for the PEOPLE to PROTEST & divide themselves from the Corrupt Courts who allowed these fraudulent robosigning documents into court when they knew ALL ALONG ABOUT THE COURT CONSENT ORDERS THAT WERE HANDED DOWN from the FTC, OCC, and others sources. THAT stated in the FTC/BAC Countrywide Consent of June 15, 2010 no banks & 3rd parties are allowed to touch properties for 8 years after that date google case 2:10-cv-04193-JFW-SS Filed 06/15/2010 document of 25 pages

    It’s time to make an “HONEST FAIR COURT” for the people & stop letting these corporation, Tarp bailout banks, courts, judges, conspire to steal all the people american dreams away especially when NON of them can’t verify the homeowners debt under the FDCPA.

    It’s all SMOKE & MIRRORS…

    This whole SYSTEM NEEDS AN ENEMA!!

    IT was NEVER for the PEOPLE…

    ONLY for the convict CORPORATE BANKS THAT WERE BUSTED plead GUILTY FOR ROBOSIGNING. YOU CAN’T SWEEP IT UNDER THE RUG FOREVER.

    WE THE PEOPLE ALL KNOW IT’S A CHANGE IS COMING..

    SOON THE COURTS, BANKS, & ETC WILL ALL FALL from the KARMA, LIES, DECEPTIONS THAT YOU CA– USED!

  2. Absolutely a shell game of cons! the banks are using the principal reduction that is meant to keep homeowners in their homes as a big con game also. The banksters are only giveing principal reduction on the second, unsecured part of the loan that would have been charged of if BK or lost anyhow by the bank, then coming after the homeowner to steal and foreclose on the first, with no intent to keep the homeowner in the house. Continuing to use robo docs by DocX and others to steal the property by fraud assignments and affidavits. The short sales are not to keep the homeowner in the house, but to take any funds from the homeowner they might have gotten to sell the home to someone else. Again the short sale being a reduction to the new buyer and not to keep the homeowner in the house. But to throw the homeowner out. Next to non of the settlement has been honored. A few people with no worry of loosing their homes have gotten prinicpal reduction for their signatures on a new loan, due to the loan they had was purposely lost and sold into empty securities pools, there fore there was no valid note against the house. Void when not transferred in 90 days What a con and a crime. WHAT A BAD JOKE ON AMERICANS.

  3. Stupendous Man - Defender of Liberty, Foe of Tyranny says:

    Any discussion regarding solutions to the mortgage and foreclosure issues that DOES NOT include enforcement of existing statutes is nothing but fluff.

  4. Poof says:

    The shell game continues !

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