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EFerrari

(163,986 posts)

17. That's one part of it.

Reply to FedUp_Queer (Reply #6)

Fri Feb 17, 2012, 03:27 PM

Feb 2012

Another is that banks have their loan servicers "help" borrowers modify loans while another department of the same loan servicers foreclose on them. The loan servicers get paid twice and the borrowers lose their home which they never really had a shot at keeping because the loan servicers aren't acting in good faith, which is illegal.

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Highlight:

Foreclosure abuse rampant across U.S., experts say - Reuters [View all] grahamhgreen Feb 2012 OP

there are no comments here because The Blue Flower Feb 2012 #1

It isn't a surprise but it IS shocking how bad it is lunatica Feb 2012 #2

They won't stop until people start going to jail. K&R - n/t DeSwiss Feb 2012 #3

Agreed. Serious prision time. n/t SomeGuyInEagan Feb 2012 #5

Yeah... kenfrequed Feb 2012 #13

Exactly. It costs money to comply with the law. Hosnon Feb 2012 #7

In related news dipsydoodle Feb 2012 #4

Could this be a trend... CoffeeCat Feb 2012 #14

What they actually said in the tv article dipsydoodle Feb 2012 #20

This story is basically correct, but fails to articulate the real nefariousness. FedUp_Queer Feb 2012 #6

Great explanation - deserves it's own OP! grahamhgreen Feb 2012 #9

Thank you. FedUp_Queer Feb 2012 #15

The destruction of America's wealth by the banks and stock market lovuian Feb 2012 #10

AND every recording requires a fee... YvonneCa Feb 2012 #11

That's one part of it. EFerrari Feb 2012 #17

BINGO. FedUp_Queer Feb 2012 #18

It is. It's a huge organized fraud on American homeowners. EFerrari Feb 2012 #19

Fedup Queer, I’d be delighted to take a seat next to you. ms.smiler Feb 2012 #21

so you are saying the banks and MERS onethatcares Feb 2012 #24

My mortgage transfers weren't recorded in MERS or the Country Clerk's public records. tridim Feb 2012 #23

Here's the deal. FedUp_Queer Feb 2012 #25

We better let them all go with a few minor financial penalties, LOL just1voice Feb 2012 #8

these greedy lenders are deep in Epic Fail teritory. Odin2005 Feb 2012 #12

K&R Solly Mack Feb 2012 #16

recommended Bill USA Feb 2012 #22

Kick! sarcasmo Feb 2012 #26