The Federal Reserve is apparently still kicking ass and taking names. They recently fined eight more U.S. banks for improperly foreclosing on homeowners. And you screwballs thought you were in the clear! Details about the size of the fines are being kept on the “DL”, but the five banks agreed to reduce mortgages for about 1 million homeowners. In addition, they have to contribute to a fund that will give $2,000 to 750,000 homeowners who were improperly foreclosed upon. Burn!
Shall we stop paying our mortgages now, or later because, I wanna get me some of that pie!
Thanks to President O and gang, 14 mortgage lenders are clenching their butt cheeks and pursing their lips, because they’ve gotta shell out cash money to homeowners who were improperly foreclosed upon. In the words of Kool & the Gang, “get down on it, if ya really want it”, ye’ tired, poor, and hapless homeowners who got swindled, ‘cause the deadline for borrowers to collect is July 31.
By the by, I’m still waiting for someone to tell me a specific story where a homeowner got strongarmed by a bank to buy a house.
Read more in the Wall Street Journal, Here