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  • Banks this Friday will begin making payments to ~4.2M borrowers whose homes were in any stage of foreclosure in 2009-10. The payments, which will range from $300 to $125K, are compensation for the robo-signing scandal when bank employees said foreclosure documents were correct without reviewing them. Part of the settlement: BAC, C, GS, HBC, JPM, MET, MS, PNC, SAN, STI, USB, WFC[View news story]
    The reality here is that the 'fraud' was more of a clerical error than forclosing on people w/o cause. Every forclosure was done after the homeowner stopped making payments - its as simple as that. If you borrow money, and refuse to pay it back - you should expect to lose the asset you are financing. Get real folks
    Apr 9 01:33 PM | 2 Likes Like |Link to Comment
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