Htown Harry
Thinks s/he gets paid by the post
- Joined
- May 13, 2007
- Messages
- 1,525
The news the last few days has had a bunch of headline stories about the supposed fraud lenders and mortgage service companies have committed in the way foreclosures were handled.
There's been no ER angle that I've seen, but the media has jumped all over this one in a way that reminds me of some of the 2008 coverage of the financial crisis. I do remember that year having some ER implications.
Several of the latest I have read have gloomy hypotheses saying that the fundamentally weak housing market is about to get even more gummed up. Or that the banks have set themselves up for another fall that might need taxpayer support.
News Headlines
Momentum builds for nationwide freeze on foreclosures
I'm not getting it...other than Harry Reid's politics in Nevada.
I even read through one of the lawsuits. http://www.scribd.com/doc/38654717/...Nation-Star-Aurora-Bac-Citi-Us-Bank-Lps-Et-Al
I think it's typical. There's a laundry list of allegations of paperwork "errors", but no real claim that the outcome - booting out the deadbeat borrower - was incorrect.
OMG, the notary wasn't in the same room when [-]her boss whose signature she has seen thousands of times[/-] an official signed a foreclosure suit!!!
Are you concerned that this is leading to something serious? Or is the whole thing just one of those "crisis" stories that tend to pop up in the weeks leading up to elections?
There's been no ER angle that I've seen, but the media has jumped all over this one in a way that reminds me of some of the 2008 coverage of the financial crisis. I do remember that year having some ER implications.
Several of the latest I have read have gloomy hypotheses saying that the fundamentally weak housing market is about to get even more gummed up. Or that the banks have set themselves up for another fall that might need taxpayer support.
News Headlines
Momentum builds for nationwide freeze on foreclosures
I'm not getting it...other than Harry Reid's politics in Nevada.
I even read through one of the lawsuits. http://www.scribd.com/doc/38654717/...Nation-Star-Aurora-Bac-Citi-Us-Bank-Lps-Et-Al
I think it's typical. There's a laundry list of allegations of paperwork "errors", but no real claim that the outcome - booting out the deadbeat borrower - was incorrect.
OMG, the notary wasn't in the same room when [-]her boss whose signature she has seen thousands of times[/-] an official signed a foreclosure suit!!!
Are you concerned that this is leading to something serious? Or is the whole thing just one of those "crisis" stories that tend to pop up in the weeks leading up to elections?
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