Update: Comment by Anonymous
Scuttlebutt has it that this has been floated just to gauge the political response.
It is nada bupkis zilch for most everybody. Those who are truly suffering now will get less benefit than a 50-year-old smoker got out of the state AG-administered tobacco settlement.
HAMP lingerers will be tempted to make e-written inquiries and will shortly find themselves suckered in – and missing a few rights to recourse they might otherwise have retained.
The woman-journalist you quote expresses – inarticulately – a passionate, powerful truth… Millions who are still paying on fraudulently originated, fraudulently securitized mortgages – are doing so for 2 simple reasons: there is no access to justice for them and they are not willing to settle for anything less than a reasonable settlement for damages done, negotiated in good faith. They will not be forced to choose strategic default just to get the conversation going.
Ultimately, they will pull Obama down and the US economy further into its Greater Depression.
Via: American Banker
WASHINGTON — The 27-page term sheet handed to the five largest mortgage servicers last week is a detailed, dense list of requirements that, if implemented as proposed, would fundamentally change the relationship between servicers, investors and borrowers.
[ipaper docId=50237713 access_key=key-2oxldsv0dsjuj63e5vnf height=600 width=600 /]
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
All I know is a fraud settlement should not be an option. This is sick and wrong. All they need to do is sue the Bankers Association for all the stolen fees and all of our counties wouldn’t be cutting services to the most poverty stricken. Our government reminds me of haiti’s now. Rob the people of everything even their dignity as the government and the bankers keep getting richer. I am appauled to say the least. An evangelist is in order. Debi
4 Important letters “FAIL”
In New Jersey, In Foreclosure :
If each and every attorney PRIVATES(generals are status for leaders, not wantabees) can not enforce the law in their own states, how can arrive at a settlement without looking at all the fraud and NOT even questioning the legal ownership of the note/mortgage. They are ACCOMPLICES TO THE FRAUD. There is no misunderstanding. We all know that.
The New Jersey Supreme Court(another wantabee) has been waiting on the 50-State attorney PRIVATES to give New Jersey Supreme direction on how to proceed on foreclosures. The court pretends doesn’t it doesn’t know that it already has the power as a state to enforce New Jeresy foreclosure laws. New Jersey courts have flagrantly allowed Certications INSTEAD of AFFIDAVITS to attest the banks right to foreclose with the Amounts Due whereas the New Jersey statues DEMAND an AFFIDAVIT. This is New Jersey’s Robo-Signing event. The judges, 99.99999 % of them, have been complicit to this FRAUD. The PROOF is in JP Morgan’s Reponse To The New Jersey Supreme Court Order To Show Cause where JP Morgan Chase Bank, N.A./Chase Home Finance, LLC state that they will continue to submit Certications because they have been allowed to do so in the past. They even submitted cases in their Response. Banks make the Rules and New Jersey Courts enforce their Rules.
We in New Jersey and all the other States need STOP this 50-State Settlement before the FINAL Version bites us in the A**.
How about a TRO or everybody do a Quiet Title ?