Blanket Settlement Expected on Past Fraudclosure Abuses in Home Loans

Settlement

Settlement Expected on Past Abuses in Home Loans

Banking regulators are close to a $10 billion settlement with 14 banks that would end the government’s efforts to hold lenders responsible for foreclosure abuses like faulty paperwork and excessive fees that may have led to evictions, according to people with knowledge of the discussions.

Under the settlement, a significant amount of the money, $3.75 billion, would go to people who have already lost their homes, making it potentially more generous to former homeowners than a broad-reaching pact in February between state attorneys general and five large banks. That set aside $1.5 billion in cash relief for Americans.

Most of the relief in both agreements is meant for people who are struggling to stay in their homes and need the banks to reduce their payments or lower the amount of principal they owe.

The $10 billion pact would be the latest in a series of settlements that regulators and law enforcement officials have reached with banks to hold them accountable for their role in the 2008 financial crisis that sent the housing market into the deepest slump since the Great Depression. As of early 2012, four million Americans had been foreclosed upon since the beginning of 2007, and a huge amount of abandoned homes swamped many states, including California, Florida and Arizona.

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4closureFraud.org

Comments
6 Responses to “Blanket Settlement Expected on Past Fraudclosure Abuses in Home Loans”
  1. Ken says:

    There are too many cases pending. Not sure how long this will take.

  2. charley rice says:

    OUT with the old courts and LET’S MAKE THE FREEDOM PEOPLE’S COURT! It’s time to KICK it to the CURB…

  3. charley rice says:

    The New YEAR is UPON US, and The People are NOT GOING to WAIT anymore for these so called settlements.

    NO MORE LIES AND DECEPTIONS!

    IT’S TIME TO PUT THEM ALL ON NOTICE!

    I’M CALLING FOR THE PEOPLE TO RISE UP AND ALL LET’S GO RECLAIM YOUR HOMES!

    THEY NEVER HAD ANY JURISDICTION OR CONSENT TO STEAL YOUR HOMES NOR DID WE EVER SIGNED ANY CONTRACT OVER TO ANY 3rd PARTY BANK, MERS, RECONTRUST!

    THE COURTS ALL DEAL WITH CONTRACTS & THE SUBPRIME BANKS HAD ALL WENT OUT OF BUSINESS in 2008 AND FILED CHAPTER 11 BANKRUPTCY didn’t EVER give ANY VALID ASSIGNMENT TO NO BANK.

    THOSE ASSETS WERE WRITTEN OFF, & THE CONTRACTS WAS BROKEN.

    THE 2008 TARP BAILOUT ALL the 3rd PARTY PRIME BANKS, AND NOW THEY’RE DOUBLE DIPPING AND BRINGING FRAUD UPON THE COURTS WITH THESE ROBO SIGNED ASSIGNMENTS WHICH ALL INVALID!

    WHILE ALL ALONG THESE JUDGES ARE VIOLATING DUE PROCESS & OBSTRUCTION OF JUSTICE AND PAST CONSENT ORDERS & CALIFORNIA LAWS ON ROBO SIGNING MEANS IT’S ALL VOID.

    IT’S TIME TO PUT ALL THESE COURTS & JUDGES ON NOTICE AND PROTEST THE COURTS, COUNTY RECORDERS..

    ALL THESE 3rd PARTY BANKS ARE TRYING TO RESURRECT DEAD SUBPRIME BANKS by SECRETLY HIDING THEMSELVES and acting as trustees.

    LET’S STOP GIVING THEM THE POWER TO PUNK US, RISE UP AND ALL LET’S GO RECLAIM YOUR HOMES!

    We have that right when the fraud and the proof was exposed..

  4. Fury says:

    yeah, like any fraudclosure victims ever saw ANY of the previous settlement money.

  5. mm says:

    Here’s the thing. Not so much that the deadline was yesterday 12/31/12, and they scrapped the program a day early, one could not enter any data yesterday, (there are about 250,000 cases pending – those will likely get dropped), but that ProPublica was very detailed in revealing that the people doing the reviews were checking with the Banks and not at all independent. http://www.foreclosurehamlet.org/profiles/blogs/big-stay-away-as-we-all-knew-some-dirt-about-independent

  6. c.l.p.a.g. Chris says:

    Steal TRILLION$ and pay a paltry few Billions; to Let them OFF the HOOK and SETTLE ?
    Whom got PAYED OFF on this mere: Legal Ruse, Artifice Scheme Device of Bank-Legal-Governance MOB Racketeering aiding and abetting by the Legal Bankster Gov. Gangsters and their CO-CONspiritor Gov. D.O.J. Shyster Legal mercenary Militant insurgent Revolutionary Financial TERRORISTS and masterful Thieves? The Criminals are STEALING the World and They Are Supposed to Police Themselves LUDICROUS as the Sect. State Billary Investigating Herself on BenGhazie?
    The WORLD is NOT a STUPID as these Hallucinatory IDIOTS! We KNOW when the FIX is IN?

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