Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Actually, this decision may stand. The bank said it would appeal - guess we'll have to wait and see. I think the judge is at least partially correct, he does have the power to determine what he considers to be equitable. In this case, he decided that the bank had "unclean hands". The legal doctrine of unclean hands has been around for ages. I'm just unsure whether a higher court would consider wiping out the entire debt (versus some of it) as reasonable. If you read the actual decision, you'll see the bank not only messed around with the debtors, they messed around with the court. Arrogant and stupid.
Actually, this decision may stand. The bank said it would appeal - guess we'll have to wait and see. I think the judge is at least partially correct, he does have the power to determine what he considers to be equitable. In this case, he decided that the bank had "unclean hands". The legal doctrine of unclean hands has been around for ages. I'm just unsure whether a higher court would consider wiping out the entire debt (versus some of it) as reasonable. If you read the actual decision, you'll see the bank not only messed around with the debtors, they messed around with the court. Arrogant and stupid.
I agree with the arrogant! and stupid!,
The banks went to the Feds and asked for money to bail them out of a problem. They were to help customers with remod's of their loans instead most have done very few remod's , instead they paid "BIG" payouts to the
Management Executives and they knew the government could not do anything to stop them , Well this judge found a way ! good luck to anyone that can get this results. I ask this question ? How else can we make the banks answer for their actions ??.
Well, according to the article, the bank was vague as well and never brought the judge a fixed amount that they wanted so the judge screwed them. As a homeowner who didn't use the system the way these people did and is still working hard to pay a mortgage, I think this is BS but reading how this is a bank that received a bail out and is still trying to toss an old lady on her butt I think they got a little poetic justice.
Just heard bank is appealing it. Obviously there is more to the story then we are seeing on TV and reading in the newspaper. Many of these sources are one sided reporting.
At the mortgage attorney firm I work at - we handle forensic mortgage audits, where if a banking violation is found, there is a good chance the home owner can end up with a free loan (paying back the principle at 0% interest.). That type of situation has been approved and ordered by judges handling Banking, State, and Federal Violations. Ending with the lender being charge with expensive penalties.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
