Houses Under Water
With the new news reports that the major banks have agreed to a settlement, just doing the numbers in my head 2 million homeowners will receive some kind of assistance with 300 million in the US; that doesn't seem like squat.
Is it me?
Here is the original link to the article:
http://www.bloomberg.com/news/2012-02-10/mortgage-foreclosure-settlement-falls-short-still-worth-the-wait-view.html
This settlement is not for the home owner it''s for the banks benefit. I have been told that this has been on the front page of the bergen record here in NJ saying that homeowners would receive 2 thousand. This is nothing but, fool''s gold!/ Once signed and delivered the home owner will have no recourse and continue foreclosure. Yes they are admitting to the fraud but, is this settlement really worth. The majority of these mortgages have zero standing they say it is about 85% which I am not sure about where these numbers were calculated from. I am in Trenton every month to view paperwork and see the fraud myself broken title is everywhere. Majority of these homes should not be foreclosed upon because they do not hold title which a majority of people know already. This I only see as a tool for negotiations with RICO Act, Anti-Trust Laws, FCRA, FDCPA, RESPA, and TILA Laws broken as long as the homeowner has not signed this settlement.