Comments on: $8.5 Billion | Bank of America Announces Agreement on Legacy Countrywide Mortgage Repurchase and Servicing Claims

By: George Forfa

George Forfa — Thu, 30 Jun 2011 17:54:21 +0000

This is more of the same old Shell Game. They that sow debt shall reap poverty. The banks and their subsidiaries believe they have a fool proof scheme. They neglect to consider that bigger, faster and smarter fools come along, every day. As I wrote in “The Real Weapon of Mass Destruction: POVERTY”, there are time – honored rules of financial engagement. By those rules, financial institutions paint themselves into a corner and bury themselves in a pit.

http://georgesblogforum.wordpress.com/2011/06/20/the-real-weapon-of-mass-destruction-poverty/

By: TrickleUpPolitics

TrickleUpPolitics — Thu, 30 Jun 2011 11:59:37 +0000

You really are naive if you think “taxing the rich and corporations” by Obama will help you. Corporations don’t pay taxes: they pass the cost of taxes to you the consumer. High corporate taxes are making US companies non-competitive in the global market which further exacebrates our poor economy. As for the rich, Obama could take 100% of the income of the rich and still not make a dent in the huge debt he has run up. The debt is another brake on our economy and until Congress gets serious about cutting spending there will be no relief. The House, where all spending bills start, is held by the Republicans (thank God!) and they have said there will be no tax hikes and there will be spending cuts. Obama is an empty suit and a one term president, so don’t put your trust in him. He’s the worst president this country has ever had and it will be good riddance when he’s gone.

By: Dara L. Michaels

Dara L. Michaels — Thu, 30 Jun 2011 03:20:22 +0000

In reply to Don Carlos.

Don,

Unfortunately I fear you may be right…unless we fight our own battlesagainst the banks for the fraud in our original loan terms, as they knew they were setting us up. Well, at least Countrywide has admitted this with the SEC and which clearly they have defrauded us,homeowners.

We made there ponzi scheme possible. We put our downpayments, made mortgage payments…depleting our funds, fully knowing they were setting me/us up for a massive fall.

My loans..yes plural were given at one bulk time frame within the same week Mozilo said none of these types of loans had a chance…Great – but take my money, my hard earned $$$$$ Steal from me, set me up…cash yourself out and leave us holding.

Then ruthlessly harassing and abusing the homeowners and I am talking the loans which have already been to the DOJ, AG OF California – but failed to keep the agreement of the settlement. Gave me a loan mod/and took it back and sent my payment back…trying to force me to foreclosure.

These are clearly admitted as predatory loans. I know my mine residence is within this pool 2006 CWALT with todays investor suit against BONY Mellon. My Countrywide alt loans were definetely based on a ponzi, predatory tactic. I just don’t know who will help.

Any suggestions for US homeowners who were also taken but have less ability to fund the fight…

Another thought is that BOA has clearly stated they are NOT buying back the loans in the pool, therefore if the Investors of the pools are paid off by a settlement agreement – than wouldn’t this conclude that there is no longer a note owed ? My loan/s were in a pool. My note’s grant deed only matches that of Countrywide Home Loan Servicing, which apparently had no rights established during the 06 time line to be selling mortgage back securities. And then I’m also informed: a note and deed must run together and never be separated, so when it became a security instrument this voided the rights to EVER AGAIN BE A TRUST DEED. (IN California) .

Any feedback on this topic would be appreciated.

By: Readdocs

Readdocs — Thu, 30 Jun 2011 02:54:19 +0000

There will be no satisfaction even if this is “settled”. This will not repair the broken titles to millions of

properties. This is all a diversion to keep the homeowners from getting access to discovery of what’s really

been going on at B0A.

By: acmodspecialists

acmodspecialists — Thu, 30 Jun 2011 02:32:55 +0000

I agree in big part with Don Carlos, nothing for the homeowner here

By: Wayne

Wayne — Wed, 29 Jun 2011 20:27:28 +0000

This is going to be very interesting now no evidence has to be brought forth to the Courts.

By: lvent

lvent — Wed, 29 Jun 2011 20:19:39 +0000

In reply to Don Carlos.

We, THE HOMEOWNERS, have the PROOF OF THE FRAUD IN OUR POSSESSION, all throughout our contracts and that kills their legal contracts. We will PROVE in court who the DEADBEATS ARE and it is NOT THE HOMEOWNERS. FANNIE MAE AND THEIR MINIONS have been trying to cover up for their MORTGAGE FRAUD PONZI SCHEME for years now. WE HAVE THE PROOF OF THE MORTGAGE FRAUD THEY COMMITTED IN BLACK AND WHITE AND THEIR FORECLOSUREGATE ATTEMPTS TO COVER IT ALL UP……..

By: Don Carlos

Don Carlos — Wed, 29 Jun 2011 19:51:04 +0000

This is very bad news for the homeowners now fighting foreclosure and I will tell you why. Both the homeowner and the investor were royally screwed by BoA. It was during the discovery process initiated by the homeowners smart enough to fight and not walk away that numerous examples of fraud in the securitization process was revealed which ultimately helped the investors’ case. When they realized no notes were ever properly endorsed and transferred to the trust, therefore their MBS wasn’t really backed by anything and more importantly the AAA paper supposedly transferred to the trust was mainly dogshit so they demanded BoA buy back the garbage. This and other useful evidence from the homeowner’s discovery process forced the hands of BoA to a settlement. BoA knows the game was over when it comes to the investors if they got caught (the putbacks would kill them) so they surrendered quickly when they couldn’t stall any longer – the writing was on the wall. Now that the investors will be made “whole” the real dog fight with the homeowners will now begin. Since the fraud would have been swept under the carpet for $8.5B, BoA will now be fearless to relentlessly pursue the homeowners. Good luck deadbeats! There will be no such settlement for you guys!.

By: lvent

lvent — Wed, 29 Jun 2011 15:52:43 +0000

GO OBAMA!!!!! Obama in his speech this morning about the economy says he wants to TAX THE RICH MULTINATIONAL CORPS Aand MAKE THEM PAY!!!!! He said the MIDDLE CLASS HAVE SUFFERED ENOUGH!!!! RIGHT ON OBAMA!!!!!!!