Another Countrywide Settlement: And Still No Disclosure of What Is Wrong

Livinglies's Weblog

assuming the investors got some or all of their investment back, under what circumstances would there exist (a) a default and (b) an enforceable loan contract and (c) ANY definable amount for “reinstatement” required under virtually all written mortgages and notes — signed only by the homeowner and missing any contract or other document in which the lender agreed to be the lender and was in fact the creditor making the loan?

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THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.

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see http://www.housingwire.com/articles/37033-finally-85b-countrywide-mortgage-bond-settlement-gets-green-light?eid=311685972&bid=1405266#.VzY9zv-rw6o.email

So just to set the stage: we have had hundreds, if not thousands, of settlements between investors and the banks, between government and the banks and between individual “borrowers” and the banks (the latter always being under seal of confidentiality). The Department of Justice has set the tone by declining to get into…

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