GR BEATS



February 22, 2012

How the Foreclosure Settlement Just Hurts Everyone More

Filed under: blogging — nick @ 1:02 pm

One of the main problems with the recent foreclosure settlement that a handful of the largest banks made with the states is that no one — not a single loan officer, company manager, or executive — has been held personally accountable by any of the states. In fact, for a mere $25 billion, essentially less than pocket change for these banks, they get away with fraud and theft on an enormous scale. Yes, some former homeowners may see some small benefit from this settlement, but can it compare with the loss of their homes due to improper foreclosure procedures? This is one reason it is important for homeowners and consumers to carefully evaluate any services they purchase, from mortgage loans to Carpet steam cleaning Milwaukee WI. The banks gambled with these bad mortgage loans and knew that they could make tons of money while delaying the human suffering their illegal actions would cause, and relied on the fact that, if they engaged in enough fraud and abuse, the government would step in, steal money from taxpayers, and bail them out. Visit this Chesapeake pinched nerve site for health information if this whole real estate situation has you stressed or depressed. And, unfortunately, this is exactly what happened. the whole situation is tragic in that either everyone should have been bailed out (obviously not a workable or ethical solution) or no one should have been bailed out. But bailing out some banks, while letting most foreclosure victims fall, was not the answer.

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