Countrywide, the greatest perpetrator of mortgage fraud in
the real estate bubble burst which is still with us, may get
nailed by a U. S. District Court Judge.
We can only hope.
I stopped writing for my mortgage blog, out of despair for getting relief for the people of Michigan from the banks and mortgage companies that were “too big to jail.”
So this goes on my bankruptcy blog.
WHAT DID THEY DO WRONG?
Besides putting people into mortgages they could not afford from day one, lying about folks’ income, inflating the value of homes to get false appraisals so that deals could go through, they ripped off people on the other end of the deals; the ones they sold the crap mortgages too.Continue Reading