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sabrina 1

(62,325 posts)

23. As far as I know, third party 'contractors' were supposed to be hired to manage the payouts. But

Tue Apr 16, 2013, 06:05 PM

Apr 2013

according to the Nation's article, the Banks were allowed to hire their own contractors, making the notion of a 'third, neutral party' a joke.

The OCC sent out notices to those they decided were eligible for a payment last year. It came on a piece of paper that didn't look very official so we looked it up. It was official but the amount offered to my friend was $800. We assumed it was a joke. She plans to sue for the theft of her home.

Iow, they are acknowledging that people were cheated out of their homes and are offering them a pittance to make them go away and try to save the banks from lawsuits.

It is really unbelievable frankly, that they would do this AFTER acknowledging that homes were stolen. Another finger to the people while the Banks receive billions for their corruption.

I wish we had a government that recognized the laws of this country. The whole thing is like a pyramid scheme. And the people are being crushed by those at the top, over and over again and with the help of our own government.

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Foreclosure victims begin receiving pitiful checks yesterday...guess what? insufficient funds [View all] xiamiam Apr 2013 OP

I can understand the need to bailout AIG.... Sekhmets Daughter Apr 2013 #1

Bush bailed out the banks before Obama was in office. tridim Apr 2013 #4

Bush couldn't have bailed them out without Sekhmets Daughter Apr 2013 #7

Why did you ONLY blame democrats? tridim Apr 2013 #12

To some extent.... Sekhmets Daughter Apr 2013 #13

If you remember, Congress first voted against the bailout. That was in response to the huge, it was sabrina 1 Apr 2013 #31

I've read several books on this subject. Sekhmets Daughter Apr 2013 #34

Paulson with Co-Conspirators: bvar22 Apr 2013 #9

Well fuck, that looks like two 'democrats' standing beside him. CrispyQ Apr 2013 #35

And supported overwhelmingly by Democrats (including Obama) progressoid Apr 2013 #10

I was responding to a post that blamed ONLY Democrats. tridim Apr 2013 #11

Oh, since you didn't make any reference to any other Democrats, progressoid Apr 2013 #16

Because homeowners don't have a lobby to write the laws Marrah_G Apr 2013 #5

It is aggravating beyond belief Sekhmets Daughter Apr 2013 #8

One or two people on one anonymous forum on an unknown website said "insufficient funds". tridim Apr 2013 #2

My friend was illegally foreclosed on in 2009. The 'law mill' that drove her out of her home, is now sabrina 1 Apr 2013 #6

I have a check coming from the bank that illegally foreclosed on my home.. tridim Apr 2013 #14

The $800 isn't intended to compensate the value of the home Orrex Apr 2013 #15

I'm sorry you had to deal with this. sabrina 1 Apr 2013 #21

The pre-payout mailing that we got a week or so ago specifically addresses that, in fact Orrex Apr 2013 #24

She did get that but didn't trust it I guess after all she went through initially. sabrina 1 Apr 2013 #25

Here's a little bit more from the online source: Orrex Apr 2013 #27

I hope not. Xithras Apr 2013 #3

Wouldn't the proper response be for the homeowners to get their homes back? DarkLink Apr 2013 #17

DarkLink, I�ll attempt to answer your question. ms.smiler Apr 2013 #20

My friend is planning to sue Wells Fargo for the loss of her home. She did not accept the miserable sabrina 1 Apr 2013 #22

Sabrina 1, I understand your concerns. ms.smiler Apr 2013 #26

Lol, thinking how lucky your niece was to have you around at that time. You gave me valuable sabrina 1 Apr 2013 #29

Is it a wrongful foreclosure because they were making payments on time, but for some sammytko Apr 2013 #30

In some cases, quite a few actually, when people realized they might have problems keeping up their sabrina 1 Apr 2013 #32

Sammytko, fraud more than anything explains wrongful foreclosure. ms.smiler Apr 2013 #33

We should have bailed out the populace, not the banks. sakabatou Apr 2013 #18

Who administers the payouts? pa28 Apr 2013 #19

As far as I know, third party 'contractors' were supposed to be hired to manage the payouts. But sabrina 1 Apr 2013 #23

Bookmarking this thread and looking around for some other sources. pa28 Apr 2013 #28

Rust Consulting apologizes. ms.smiler Apr 2013 #36