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View Diary: NY Atty. Gen. Schneiderman LOVES Today's Mortgage Fraud Deal. UPDATED x3 Liz Warren Likes it Too! (261 comments)

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  •  how about some real help? (11+ / 0-)

    HAMP did nothing for me though I appeared to be eligible, this deal does not even include people like me because my lender is not part of the settlement. Yet the townhome I still owe $140.000 on is now worth $73,000, and due to a number of other unexpected circumstances, my monthly payment is about half of my take home pay.

    -7.75, -6.05 And these wars; they can't be won Does anyone know or care how they begun?-Matt Bellamy

    by nicolemm on Thu Feb 09, 2012 at 09:38:54 PM PST

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    •  You should check with your state (7+ / 0-)

      They're going to provide different things in different states, but as Schneiderman said above, there will be counseling and legal help available to homeowners in trouble and they will help appeal to the banks to get underwater homes mortgages rewritten.
      I was surprised to hear that Kansas is getting $50 million from this, our state is one of the few that the bubble and then the foreclosure crisis barely touched.
      I imagine states really badly hit like Florida and Nevada will get the lion's share, but investigations and prosecutions will go on:

      The hard line against banks, laid out by President Obama during a briefing Thursday, is a marked shift from just a few months ago. Most of the government's criminal prosecutions against financial executives had fizzled out and a growing number of bank critics were complaining Wall Street was getting off too easy.

      Banks also lost out on their attempts during negotiations to be given immunity from future investigations on a broad number of issues related to the mortgage meltdown. New York, California and several other states complained about the banks seeking leniency, and the immunity was narrowed considerably in the final settlement.

      "It does not release the group for a host of remaining liabilities," Nomura Securities bank analyst Glenn Schorr wrote Thursday.

      If you can separate sex from procreation, you have given women the ability to participate in society on an equal basis with men. -Gloria Feldt

      by skohayes on Fri Feb 10, 2012 at 05:15:01 AM PST

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