SOS Again? "Loan Complaints by Homeowners Rise Once More"

[RKP5637]

Looks like this crap is starting up again!

http://dealbook.nytimes.com/2014/02/18/loan-complaints-by-homeowners-rise-once-more/?_php=true&_type=blogs&nl=todaysheadlines&emc=edit_th_20140219&_r=0

A growing number of homeowners trying to avert foreclosure are confronting problems on a new front as the mortgage industry undergoes a seismic shift.

Shoddy paperwork, erroneous fees and wrongful evictions — the same abuses that dogged the nation’s largest banks and led to a $26 billion settlement with federal authorities in 2012 — are now cropping up among the specialty firms that collect mortgage payments, according to dozens of foreclosure lawsuits and interviews with borrowers, federal and state regulators and housing lawyers.

These companies are known as servicers, but they do far more than transfer payments from borrowers to lenders. They have great power in deciding whether homeowners can win a mortgage modification or must hand over their home in a foreclosure.

And they have been buying up servicing rights at a voracious rate. As a result, some homeowners are mired in delays and confronting the same heartaches, like the peculiar frustration of being asked for the same documents over and over again as the rights to their mortgage changes hands.

[magical thyme]

1. the $26B settlement was chicken feed. just the cost of doing business.

of course they're doing it again...it worked quite well for them the last time.

[RKP5637]

2. Yep, it was just a slap on the hand, a token gesture to try to appease the masses. Big money

owns and runs this country, owns congress and TPTB are beholding to them. As long as we allow big money to run the campaigns/elections and government this will continue.

[2pooped2pop]

3. we received a class action notice for all of the calls

BOA, and the loan servicers JP MOrgan and Nationstar took 4 years to finish the foreclosure. During that time we were called daily 2-4 times. The class action is for the calls made to our cell phone. I have just been informed that I may be eligible to receive $20.00 per claim and possibly file as many as two claims for a total of $40.00 win. Yes, those decimals are in the right place. WOOHOO!!!

I could be a twentydollaraire soon!!!!

[RKP5637]

4. Ain't it great! Justice served! Crooks win, the rest of us lose. I think it's just a matter of

time before the entire thing or similar occurs again.