I've been supportive of President Obama's attempts to keep people in their homes where possible. I don't have any problems with him encouraging Banks to try and work with people to do this. If he has to lean on Banks a bit to get them to cooperate, I'm OK with that. ( we the taxpayers did bail some of these banks out, so maybe they do need to cooperate)I think we all benefit from keeping as many people in their homes as possible as long as its down mainly through the private sector.
I just can't believe people who had their homes foreclosed will be getting $2000. IF the Banks did something wrong that should be between the Person and the Bank to resolves that. There are plenty of attorneys out there who can do this.
The people who had stated income no documentation loans who may have inflated their incomes to get qualified ( possibly committing fraud in the process) are they now going to get $2000 for doing this?
If people signed documents misrepresenting their incomes why isn't the FEDs going after them for fraud instead of just the banks? We all know the answer to this question, people vote for President and Banks don't! If OBama can get 1.5 million people $2000, than thats another possible 1.5 million votes! I guess its just a coinincidence this is happening in an election year?
What happens to the people who made the choice to walk away from their homes, who had the ability to make payments, but let it fall into foreclosure? Do they get $2000 as well?
What about those who did loans for people who knowingly participated in inflating incomes? Are they ALL going to be investigated as well?
What about all those people who had their homes foreclosed by Banks who aren't part of this settlement, do they get nothing?
IMO, this is one of the biggest attempts at pandering EVER seen in recent history! Anybody with an ounce of integrity should be able to see through this!
Where did you get the idea that everyone who was foreclosed on is getting $2,000???? I realize you are angry, but that is no reason to make up falsehoods about a certain aspect of the settlement. The $2,000 settlement is ONLY being paid to homeowners whose homes were foreclosed on with the help of forged signatures by the bank. In other words, ONLY homes that were ILLEGALLY foreclosed on are eligible.
Homeowners really have no way of finding out if the documents filed for their foreclosure were forged or not, otherwise they would probably sue. The banks, on the other hand, do know and are not giving out that information. That is why the AG's stepped in to demand justice.
Your argument regarding people that committed fraud on their mortgage applications does not hold water either. Just because the initial application may have been fraudulent does not mean the banks should be allowed to forge documents/signatures to foreclose on a home. Two wrongs do not make a right. Anyone breaking the law should be investigated.
