People Are Still Losing Homes Under the Robo-Signing Deal

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People Are Still Losing Homes Under the Robo-Signing Deal

People Are Still Losing Homes Under the Robo-Signing Deal

Nobody knows who owns what or what assignments are legit. The title to these homes are destroyed. Yes, they can be fixed but who will pay down the road? It’s the title.

They thought they fixed this massive fraud with a settlement but how are they fixing the titles to the homes?

Where are the satisfaction of “notes” not mortgages? Make sure you request these if allowed in your state!

Business Week-

The $25 billion National Mortgage Settlement signed in February was supposed to right the wrongs exposed in the robo-signing scandal and provide relief to homeowners, with a focus on making mortgages more affordable by reducing how much borrowers owe. In a new report from Joe Smith, the settlement’s monitor, one number jumps out: About half the payouts so far are being used to clear troubled mortgages but aren’t keeping people in their homes.

Banks have provided homeowners $20 billion in relief since March. Of that amount, 49 percent has gone to forgive debts in short sales, whereby a bank lets a borrower sell his or her home for less than the outstanding balance on the mortgage. Banks have waived an average of $115,672 in unpaid principal balances in 113,534 short sales. Typically, a short sale is better for a borrower than a foreclosure, but it still means homeowners ultimately lose their houses.

[BUSINESS WEEK]

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5 Responses to “People Are Still Losing Homes Under the Robo-Signing Deal”

  1. Charles Reed says:

    Look up the word Fraud and the Ginnie Mae Mortgage Backed Securities program will appear with Wells Fargo, Bank of America holding there two little pirate buddies in Washington Mutual and Countrywide.

    We the United States tax payer are owed by the mortgage industry $264 billion dollars for the fraud of foreclosing on the 800,000 FHA & VA loan that were denied HAMP modification and the 800,000 False Claims to the two government insurance funds in FHA Mortgage Insurance Premium and VA Guaranty Fund.

    This is a joke that one guy in me has discovered the crime to a trillion dollar phony Ginnie Mae Mortgage Backed Securities that has absolutely no underlying collateral to support the securities activity, and this is called a Ponzi Scheme were the Bernard Madoff is not really investing in anything but just keep needing new investors to pay the old investors. There is no collateral because Ginnie Mae by law cannot purchase a home mortgage loan but is given signed endorse blank Notes that are at the time of delivery into the hands of Ginnie Mae becomes a non-negotiable document that can never be reunited with the debt!

    America needs to ask HUD Secretary Donovan when do we get our $264 Billion from bank?

  2. MERS has been deemed unlawful to be doing business in the State of Wa per the Bains v MERS En Banc case law, as of August 16, 2012, yet MERS just assigned a mortgage as being the beneficiary to another obvious fraud by fraud assignment in King County Wa on October 2, 2012. To steal the home. Beyond frustrating, Judge Dixon in Thurston county in WA states the Bains V MERS case wont be held significan in his court room. We are dealing with corruption in our courtrooms. All of America is a crime scene, including our court rooms.

  3. http://4closurefraud.org/2012/08/29/outrageous-the-short-sale-scam-most-going-to-non-recourse-states-that-bar-deficiency-judgments/

    The seconds are being used for the same scam. The banksters are going after the homeowner on the first and using the second mortgage being wiped out towards the settlement agreement, money the bank would have lost anyhow, and going after the jugler of the homeowner on the first mortgage anyways stealing the house with fraud docs.

  4. ABSOLUTELY NO JUSTICE!

  5. JIMI says:

    BANK OF AMERICA AND ONE WEST BANK STILL ROBO-SIGN ASSINMENTS FOR
    AND ON BEHALF OF MORTGAGE COMPANYS THAT ARE OUT OF BISNISS FOR YEARS NOW THERE IS NO PROTECTION TO HOMEOWNERS IN THE USA NOT EVEN IN COURTS WHERE THE MAJORITY OF JUDGES LOOK THE OTHER WAY AT THIS FRAUD
    BY THE BANKSTERS

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