Sometimes (most of the time) we have to wonder – whose bright idea was the foreclosure and eviction moratorium? Did they have no sense of consequence? The idea in and of itself was good at the time – but the execution leaves a lot to be desired. Why in the world would the Congress agree to a moratorium of mortgage payments be allowed to use a “forbearance” program?! Here we go again.
March 1, 2021 MEDIA CONTACT: Office of Communications Tel: (202) 435-7170
NEW REPORT FROM CONSUMER FINANCIAL PROTECTION BUREAU FINDS OVER 11 MILLION FAMILIES AT RISK OF LOSING HOUSING Federal foreclosure moratorium slated to end June 30, 2021 WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) issued a report that warns of widespread evictions and foreclosures once federal, state, and local pandemic protections come to an end, absent additional public and private action. Over 11 million families are behind on their rent or mortgage payments: 2.1 million families are behind at least three months on mortgage payments, while 8.8 million are behind on rent. Homeowners alone are estimated to owe almost $90 billion in missed payments. The last time this many families were behind on their mortgages was during the Great Recession.
If you are wondering why Fannie Mae and Freddie Mac (GSEs) are slithering through the swamp looking for a path to release them from the bondage of Conservatorship, let this Plaintiff GREEN TREE SERVICING LLC, amended to DITECH FINANCIAL, LLC case begin to open your eyes to the corruption racket behind scenes since 2008.
Illegal actions aren’t limited to just Green Tree. These are standard business practices among the banks, known – and it appears generally accepted by, the GSEs. Continue reading →