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aktrekker
26-11-09, 02:42
A Long Island couple ended up in court over a foreclosure. The judge was so angry at the way the bank had treated them he wiped out the entire mortgage, leaving them owning the home free and clear.
The home was originally purchased for under $200k. At the time of the court judgement, the principal was $291k and interest and penalties were $235k. Now it is $0.:tmb:

The judge said the bank mislead him about the dollar amounts at stake, and treated the couple poorly during months of hearings.
I just don't get why they would mistreat the couple during the hearings when the judge would hear about it. And lying to the judge! WTF?

Apparently the bank is also trying to evict an 89 year old woman in California, after 2 court orders to stop.

Serves them right. More judges should do this.

Article here (http://www.nypost.com/p/news/local/judge_kos_mortgage_to_slap_bank_28ZS1oW8Y58z6gu1AQ bWMI)

MattTR
26-11-09, 02:44
Wow, that's outradges!

I read roughly what was it, 25% of home owners currently owe more then their homes are worth? Times are rough.. :(

Catracoth
26-11-09, 02:50
Haha outrageous, Matt. Glad good fortune found it's way to that couple. **** the banks.

MattTR
26-11-09, 02:54
Haha outrageous, Matt. Glad good fortune found it's way to that couple. **** the banks.

Totally, luckily my mother owns our house, Taxes are outrageous as well. Our neighbor pays $17,000 a year!

Draco
26-11-09, 04:04
What is outrageous is our letting our financial system get anywhere near this level of absurdity.

Little-Lara
26-11-09, 04:21
...
The home was originally purchased for under $200k. At the time of the court judgement, the principal was $291k and interest and penalties were $235k. Now it is $0.:tmb:
.....


:yik: I can--not believe those numbers. That is sooo messed up.

*holds back the slanderous vernacular.

Makes me worried about what or how I'll ever buy a home!!. :(

Catracoth
26-11-09, 04:52
Did I mention my hatred for America?

Ikas90
26-11-09, 05:13
I want a home of my own free and clear! :D

Catracoth
26-11-09, 05:49
Who doesn't?

SamReeves
26-11-09, 06:06
:yik: I can--not believe those numbers. That is sooo messed up.

*holds back the slanderous vernacular.

Makes me worried about what or how I'll ever buy a home!!. :(

Ha ha, but you're close to the belly of the beast! ;)

But I think people have to take responsibility for themselves too. The credit binge cost us dearly in the last year and a half.

scoopy_loopy
26-11-09, 06:47
Ha! This sets an awesome precedant! :tmb:

EscondeR
26-11-09, 06:55
^ This :tmb: Money sacks must be cured from their "Higher than laws" delusion.