Sorry to interrupt. But here it goes because “WE” have trust issues.

Exactly what qualifications do these “third-party companies” have? What if the servicer is not one of the 14? What will happen to deficiency judgements, in case they try to come after you? Because as I picture it, those of you who “may” get pocket change thrown at you might get hit with a DJ before the change lands in your hands. Then here goes the beauty of this article

“It hasn’t been determined whether borrowers that accept restitution would have to agree to surrender related legal claims.”

Think about this one and what it all means. It’s the same type of garbage they were trying to throw at NY AG Schneiderman.

But it don’t matter because they’re moving “full-steam ahead” with a settlement with or without participating AG’s.

WSJ-

Millions of current and former homeowners will have a chance to get their foreclosure cases examined to determine whether they should be compensated for banks’ mistakes, under a wide-ranging review being planned by federal regulators.

The review process, which could be unveiled in the next few weeks, will be open to borrowers who were in some stage of foreclosure in 2009 or 2010. Estimates prepared by the Office of the Comptroller of the Currency, which will oversee the review, indicate that 4.5 million borrowers could be eligible for review.

[WALL STREET JOURNAL]

Comments

comments