California forced to give back $331 million stolen from home-owners


California forced to give back $331 million stolen from home-owners

California forced to give back $331 million stolen from home-owners

American Thinker-

What if the bluest state in the country stole a third of a billion dollars from victims of chicanery and the media refused to notice?

I have been stunned at the lack of media coverage of California’s foiled robbery of almost a third of a billion dollars.  That’s right: under Governor Jerry Brown, the Great State of California helped itself to hundreds of millions of dollars – money that was supposed to go to home-owners – and you probably didn’t hear about it.

Bib Egelko of the San Francisco Chronicle was one of the few to cover this story, and it did not exactly generate nationwide headlines for some reason:

When California received $410 million in 2012 as part of a nationwide settlement with major banks accused of abusive foreclosures, Gov. Jerry Brown used $331 million to pay state agencies in housing and other programs to cover their deficits.

Now a state appeals court has ordered the money be used for its original intent: to help homeowners who suffered foreclosures.

The money was “unlawfully diverted” from a settlement fund that was designated for programs directly assisting homeowners, the Third District Court of Appeal in Sacramento said Tuesday.  A Sacramento County judge had reached the same conclusion but found he lacked authority to order the state to redirect the money, a finding the appeals court rejected.


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One Response to “California forced to give back $331 million stolen from home-owners”

  1. Charles Reed says:

    This was done across America as in Nebraska also, as the State used the monies for State shortfall instead of foreclosure victims, but the Obama administration allowed this to happen because they did not believe there were any victims! Buffet and that Wells Fargo Bank could not possibly commit crimes!


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