Mortgage Orb-
“At least 15,000 instances of financial institutions failing to properly reduce servicemembers’ mortgage interest rates and over 300 improper foreclosures have been identified by federal investigations and financial institutions in recent years,” the GAO said in its report.
Furthermore, the GAO noted that although the U.S. Department of Justice (DOJ) has explicit SCRA enforcement authority, it has only brought three cases against mortgage servicers for SCRA violations during the past five years.
Okay, let’s pull out our handy-dandy calculators and try to add that up. At least 15,000 cases of improper SCRA-related mortgage interest-rate reductions, plus over 300 improper foreclosures against military personnel and their families who are supposed to be protected by SCRA equals…three DOJ-generated lawsuits? That doesn’t seem to add up, eh?
image: Adam Surface
The calvary is coming if it the last thing I do! We are not going to let our son & daughter who have spent time defending this Nation in wars, only to come home to a financial crisis committed by these bank who performed wacky subprime loan controlled by some rigged LIBOR set in London with the manipulation of America banks leading the way.
Unemployment because of the defaulting subprime loan cause veteran to not get employed or as we are last in the work force because of thing like we too busy defending the World for a tour. Now active duty & veteran cannot get modifications because of our own government owned company Ginnie Mae!
This is as much about me stupidly putting Eric Proctor in the Army and him dying from some mysterious lung disease that was acquired while serving in Iraq during Desert Storm.
Here was this young man that wanted to me like me just a soldier, however he lost his battle after defending our country.
Now in while executives of Goldman Sachs, Wells Fargo, JPMorgan Chase, US Bank or back home Berkshire Hathaway who enjoy the freedom we force to protect, however now when our homeboy Warren Buffett talk this trash about his secretary’s tax rate when she got a second vacation home while military families are thrown out their homes by Wells Fargo who Mr. (Potter) Buffett is the largest shareholder.
Because of what the lenders & Ginnie Mae have done and no way did the borrowers agree to this arrangement as we did not even have knowledge of what Ginnie Mae does and that they are now being denied a modification by the very same federal government that we currently work for or did work for.
However because of how these loans were transferred there is not a valid contract that is in place because Ginnie Mae did not purchase these loans and the Lender is not longer in the picture because they have no Note and the are dead as a defunct bank.
Ginnie Mae & HUD have been informed of this RICO crime by someone HUD is the regulator for. Houston you got a problem and we the Troop are not going to simply be the ignorant kids you ship around the world so that some guy sitting on Omaha NE can have $47 billion without he or his children having to have a lung removed or limbs lost or PSD and are legally thrown out OUR properties!