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Bankrupt mortgage giant to shell out $230m to borrowers

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Mortgage Professional America | 29 Jul 2013, 06:53 AM Agree 0
A bankrupt former mortgage giant will have to pay $230m to borrowers in an enforcement action by the Fed
  • Jim the Mortgage Man | | 29 Jul 2013, 12:11 PM Agree 0
    So let me get this straight, those individuals who were/are delinquent in their obligation get rewarded and those of us who struggle, sacrifice, and compromise, to fulfill our obligation get penalized... Only in America... And tell me you didn't see this coming some 5+ years ago... Just like those Mortgage CEOS who never imagined a correction/implosion in the housing market... Like the song says: Meet the new boss, same as the old boss, WE WON'T GET FOOLED AGAIN ! HARDLY...
  • Tammy Buczynski | | 06 Nov 2013, 07:57 PM Agree 0
    GMAC continued billing me on 2nd mortgage for more than 7 yeard after I filed bankruptcy. I did not know 2nd mortgage was discharged in bankruptcy. I also did not know that per government they can not bill you on 2nd mortgage. Now the mortgages have been transferred to Ocwen which is GMAC under different name. It would be nice if we the tax payers could just change our names to get out from under our responsibilities.
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