General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAbout the foreclosure payments
I just received my foreclosure check. The one were the banks decided to police themselves and determined how much they wronged everyone personally. When I received the notice about the payments and the payout amounts, many of us, were to receive between $300-$400 checks, the most would be given to services members who had there houses stolen while on active duty. Here is the rub, my check is for $3000.00. It would be interesting to find out how they determined that amount for me? If $300-$400 was the average check, this tells me that they really did screw me over, badly. I wanted to keep my house and did every fucking thing the banksters asked me to do, but to no avail, they led me on, week after week, month after month, until I finally realized that the banksters were not going to let me stay and started flat out lying about everything. I did call my senators (Fienstein and Boxer) and let them know I needed help, nothing, crickets. They both lost my vote. I'll vote democratic, but the progressive candidate only. No more DINOS. I also wrote the Office of Comptroller back then, again they were busy with whatever (golfing?) to help. So why $3000.00 not $300.00? I could use the money, the Government gets it all back for federal and state taxes, I really won't be able to spend a dime of it. I'l be glad when this part of my life is over. Peace.
elleng
(134,883 posts)I'm no tax expert, but I'll bet you're not required to do so. Check with experts. (I expect you'd find some good info on this here, Personal Finance mebbe.)
Horribly pissed about all of this.
GiveMeFreedom
(976 posts)It's not whether I have to pay taxes on it or not. It's about the amount. Why so much? When most will only get a tenth of what I just got. Hm? I do love Senator Warren and hope she puts a few banksters in jail. I appreciate you being here on DU elleng, we mostly think alike from what I have read. Peace.
elleng
(134,883 posts)and I do understand your spoken concern, Freedom.
tridim
(45,358 posts)I KNOW they did many illegal things with my loan documents. Their lawyers know I know too.
GiveMeFreedom
(976 posts)I believe, because I did some leg work to keep my home, there is a nasty lack of a paper trail. I also worked construction my entire adult life, until cancer retired me. My family knew that the economy was going to pop in 2007. I made $30 k that year in income, half ($15 k) was unemployment. I lost $60 k in income that year. Maybe, because I was hit so early with the foreclosure process and the battle lasted over 3 years, that somehow I deserve more?
What I would like to know is how they determine what amount to give each person/s, what is the criteria?
I know we could speculate as to how they determined it and that's fine by me, we have to start the dialogue somewhere.
avaistheone1
(14,626 posts)average check was more like $1000. The money is yours so cash the check. I am confident the banks/government owes you much more than that. I wish you got an ever bigger check.
ms.smiler
(551 posts)Do you know if your mortgage was securitized? Was your mortgage a MERS mortgage?
What documents were filed in your land records? Who signed those documents? Were all Assignments filed in the county land records? Is your state a must record state?
Were you properly notified of a supposed default? Were you properly served with the foreclosure action? Under the laws of your state, was your mortgage still valid when the foreclosure was filed? After the foreclosure, was the property Titled over to Fannie Mae?
Do you know that wrongful foreclosure has damages of 3 times or more of the value of the property? Compare that amount with your $3,000 check.
Are you willing to sue?
Here is my story:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x2412603
Im still awaiting trial on a Quiet Title action.
Its not about whether a homeowner is making payments or not. Its all about massive fraud on the creditor side of the mortgage transaction.
GiveMeFreedom
(976 posts)Last edited Mon Apr 15, 2013, 10:25 PM - Edit history (1)
Thank you mam, this is what I needed to know. I know that these "payoffs" do not absolve the banks of all their crimes. Just those of us that have given up will capitulate, I suppose, and really call it quits on chasing these banksters into their graves. THANK YOU AGAIN. Peace.
TlalocW
(15,571 posts)I received a notice from them that I would be getting either more info or a check in several weeks (it's been several weeks since I got the notice). Apparently, it's not a scam according to what I've been able to find on the intertubes.
TlalocW
GiveMeFreedom
(976 posts)I hope my OP does not mislead some folks, about the validity of the checks? That is not my intent and I apologize if this has caused some folks pause. My concern is more in-line with what ms. smiler (post #7) has posted. I hope your check is bigger than mine, good luck I guess. Peace.
on edit: gender title, sorry.
TlalocW
(15,571 posts)I was just wondering if we were part of the same... program for lack of a better term.
TlalocW
dixiegrrrrl
(60,011 posts)THERE'S a name that inspires confidence.
HiPointDem
(20,729 posts)is, if it's for fraudulent activity, was there a court case and is this the settlement?
because it seems like everyone should get more.
ms.smiler
(551 posts)Yes, the homeowners should receive more, much more for the harm done to them. The banksters though are not about to return what they have stolen nor is our government demanding they make equitable settlements.
So, it is up to the homeowners themselves to either accept that they were wronged and defrauded or find counsel and sue for the damages owed to them. The damages are noteworthy.
In general, there are claims for Wrongful Foreclosure, Slander of Title, wrongful reporting to credit agencies and Breach of Contract with multiple parties that should be sued. In some states, a Plaintiff can even sue for the property.
If there is a new homeowner, they would also have standing in a lawsuit. True accountability for the banks and their servicing companies would be a much deserved nightmare. They though made the decision to conduct fraud rather than business.
In addition to civil claims, there are criminal claims of forgery, perjury, notary fraud, a felony (filing false documents in the land records) fraud on the court, etc.
On the Wall Street side there is tax & insurance fraud and securities fraud but that is the area where investors were harmed.
The checks that homeowners will receive are missing several zeroes. Thankfully, homeowners retain all their rights and claims and can pursue an equitable settlement with their own lawsuit. Most of these lawsuits would settle prior to trial but for those who go to trial, request a jury. I know I would be delighted to serve on such a jury.
HiPointDem
(20,729 posts)concerned me.