Perhaps the tide is starting to turn .......Perhaps ???
So the state’s fund will pay the debt collectors/distressed debt buyers who paid almost nothing for the collection rights? In full?Perhaps the tide is starting to turn .......Perhaps ???
I watched this Netflix movie “I care a lot”. It reminds me of the mortgage bankers and the subprime mortgage home owners, so similar.
Wow, it's been eleven years for us too....well, the first time around started in 2010. It's been one hell of a journey....Aargh! It's hard getting on the same page with an attorney. I gave my guy a road map explicitly demonstrating the Defendant's breach of the loan contract and how under statute and common law that excused my performance. He came back with a complaint for FDCPA. I mean fine, we can shoot them too but it's more efficient to disarm them. They're coming after me (non judicially) in contract so I need to use the same area of the law to defend myself, need to use their weapon. I signed an enforceable agreement promising to repay a loan and haven't made payments in eleven years. The fact that they're readily identifiable greedy bullies has no bearing on that. Contract and tort are apples and oranges. Sure they've subjected me to a couple dozen mock executions over the years - Geneva convention notwithstanding - and have less soul than Mitch McConnell but it doesn't matter. Some judge is just going to go, "Look lady, eleven year's free rent's not bad. Now pack up."
Wrong. I didn't bargain for housing. The purpose of the mortgage is the exchange of funds for property ownership, housing is just one of its benefits. Obligations exist on either side on a contract. When they induced default with false promises of improved loan terms then refused tender and initiated foreclosure telling me it was a technicality while concealing their lack of authority to modify that constituted a material failure to perform and suspended my performance. Meanwhile I've been substantially deprived of the expected benefit.
The ball has been in their court for eleven years. They've had the option to cure and resume the contract but they decided it was more profitable to assume the law didn't apply to them and just harass me until I cried uncle.
Yes, tort law has come into play given the intentional nature of their actions, the foreseeabilty of harm and the possibility of punitive damages but given the potential pay off - equity four times the loan balance - it's just too tantalizing for them to resist the windfall. Sounds like someone slept through Contacts 101 or else they'd know that refusal to cure discharges performance under Restatement and allows termination.
Now if I can just get my attorney on board .
They probably don't bother looking at mirrors because there's no reflection.Glad yall are OK. I am just waiting for the new AG to to be confirmed to send in my complaint against the crooks. The least I can do. My job is to file complaints, to do anything about it is their jobs. My state court case is closed , no attempt to enforce the judgement yet. Maybe I just lay low without filing anything new for now. Judgement is good for 10 years in Oregon. Hope I live that long. Maybe BOfA is waiting for me to die. . Bunch of Fxxxxng crooks, cheating people for a living, should be ashamed of themselves looking in the mirros.
Excuse me, but what do any of those do for society?That's how they become billionaires unlike Elon Musk, Bill Gates, Bezos who really do good for society.
Less than 1% of it is going towards COVID Relief. The vast majority of it is a Demoncrat state bailout -- to paper over the losses from YEARS of terrible decisions. It's the lifeline for Illinois, in particular, but also New York.The 1.9 trillion stimulus package passed, almost 6K in debt for each of us. The difference this time from the bank bailout is we'll get some of it back, chunk of it goes to the kids. At least unlike the banks, the kids won't forge documents to foreclose on us and kick themselves out on the streets.
What your saying is not true.What I am saying is true. My family share of the debt is 24K, we ‘ll get back $8600 approx 35% of the stimulus, clearly not 1% as you indicated. 359b to states , 18%
We haven't had yields on CDs in the 6% Range since 2006. They fell into the 5's in 2007. And into the low 4's and 3's in 2008. So I don't get your point.Not only my family will pay but ALL of ours will, especially retirees and renters in terms of lower rates and inflation. Before I retired, I was expecting 6.5% interest on my CDs now I get .5%. Next door neighbor's rent went from 1000/month in 2010 to 2600 now.