The foreclosure fiasco

  • Article by: JOE NOCERA , New York Times
  • Updated: January 15, 2013 - 8:35 PM

The government makes the foreclosure crisis go away, without a fix and without fairness.

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owatonnabillJan. 16, 13 6:13 AM

"It is more about public relationships than problem-solving. Pick a program -- any program -- that the Obama administration unveiled to help troubled homeowners over the past four years. Not one has amounted to a hill of beans." ................... And why should it? Adding more layers to the bureaucracy, when the bureaucracy has already proven itself totally inept, is a totally illogical way to proceed. But it is the American Way, after all.

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cyberhaze9Jan. 16, 13 7:25 AM

What the article didn't mention is that the other half of the settlement is paid by banks receiving credit for offering modifications they were obligated to offer, anyway. So, violate the law (millions of times), pay a fine, admit no wrongdoing, back to business as usual; nothing to see here, move along. The rule of law does not apply when one is too big to fail (or prosecute).

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mnsnomanJan. 18, 13 6:36 AM

I too lost my home becuase of promises that my mortgage servicer Citimortgage made it up aas they wen along with the failed owebama policy called HAMP. Put me on a reduced payment and then immediately starts reporting that I am late to the credit bureaus and every month for the next nine months until they tell me that I do not qualify and that I now have to make my regular payment plus an additional 1/2 payment until all arrearages are paid up. (including late fees and penalties) even though at the inset I was told that if I did not qualify that the missed portion would be tacked on to the back end of the loan. Another lie was the "three trial payments and then the modification becomes permanent. This disaster of a government is just killing us all financially and otherwise under the guise that "I am from the government and I am here to help". In the meantime the current fools in charge of D.C. are charging up the credit cards like drunken sailors and the current buffon of a president acts like he has nothing to do with it and it is all congresses fault. (plenty of blame there too but jeez, stand up and be counted or act like the coward that you are)

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