Mortgage Industry Overhaul & $25B Settlement - REO Property Preservation Forum
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post #1 of 18 (permalink) Old 01-23-2012, 12:23 PM
a1propertyclean
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Mortgage Industry Overhaul & $25B Settlement

"About 750,000 Americans could receive checks for about $1,800 under the deal.

The settlement would only apply to privately held mortgages issued between 2008 and 2011, not those held by government-controlled Fannie Mae or Freddie Mac. Fannie and Freddie own about half of all U.S. mortgages, roughly about 31 million U.S. home loans."

http://www.fox5vegas.com/story/16579...goes-to-states

Linda
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post #2 of 18 (permalink) Old 01-23-2012, 01:30 PM
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Heres a check, now go away and be quiet.

Oh and by the way, you can't sue us for screwing you over fraudulently.
We got 50 state immunity.


Nice job of selling the tax payers down the river.
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post #3 of 18 (permalink) Old 01-23-2012, 01:53 PM
Metro M & L
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Any cost estimate from the government = add two zeros to the end. Iraq cost 100 billion? Uh, minor miscalculation it's going to be 10 trillion.

Any revenue or cash being given to the taxpayer = remove three zeros. Up to 10 million americans could receive 3% mortgages under the making homes affordable program. Uh, minor miscalculation 1500 americans got these gravy loans.

This one was especially funny - you had to prove you could repay the loan but if you could prove you could repay you didn't need any assistance.
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post #4 of 18 (permalink) Old 01-23-2012, 02:14 PM
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@ Paul. It won't solve any of the issues that don't already have a solution pending or get the owners back into their homes.

But at least it's something. There are people out there who can use the $1,800. Problem is............ it might be hard to find them, now that they don't live in those homes anymore. Unless, of course, they were part of a class action suit.

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post #5 of 18 (permalink) Old 01-23-2012, 02:17 PM
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@ Metro. This $ is supposed to be coming out of the banks' pockets, not the US Government.

Linda



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post #6 of 18 (permalink) Old 01-23-2012, 02:48 PM
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Quote:
Originally Posted by a1propertyclean
@ Metro. This $ is supposed to be coming out of the banks' pockets, not the US Government.

Linda





I sure wouldn't hold my breath on that one!!!!

The last few years current events do not have a very good confidence rating on how things should be.
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post #7 of 18 (permalink) Old 01-23-2012, 04:29 PM
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Quote:
Originally Posted by a1propertyclean
@ Metro. This $ is supposed to be coming out of the banks' pockets, not the US Government.

Linda
didn't we give the banks some money?i seem to remember:whistling
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post #8 of 18 (permalink) Old 01-23-2012, 04:48 PM
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I'm pretty sure the bailout money was wasted. Now they have to come up with it on their own.

I prefer to remain optimistic that the banks are finally going to pay out of their pockets for something. NO raining on my parade, okay?

Linda



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post #9 of 18 (permalink) Old 01-23-2012, 05:05 PM
Metro M & L
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I've signed up for three class actions over the years. Even read about one of the cases paying out. Never seen a dime.
post #10 of 18 (permalink) Old 01-23-2012, 05:13 PM
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HUH...Banks don't print money...they get their money from account holders SO the account holders will be paying for this out of extra fee's, less interest, higher overdraft charges etc etc.

Banks won't pay for a thing in the end.
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