If you started in the 1950’s you got a lucky break and you have a helpmate. Try starting now with the high cost of living and slow economy.
Did you have family support?
Maybe you should read…The Working Poor. Stop living in the past. These days we are living in are not the same. They lack moral and ethical values.
Yes, I am upset. With the fraud and corruption in business, government, and around us. Like Barack said….Change… This country needs change. Look around you. Stop living in a glass bubble.
Knowing whether you can afford a home is personal decision and responsibility. What kind of idiot relies on a bank or mortgage company (or any other vendor that is selling things) to make that determination for them. I have no sympathy for those who blame others for their ingorance and poor judgements. What’s next? Provide every breathing being with a personl assessment of what they’re capable of in everything in life.
They know big screen TV, the Apple phone, and Playstation 3 but they can’t figure out how much they can afford a month?
You can bet this suit is inspired because INVESTORS lost money due to Countrywide’s loosening of underwriting standards. There is obviously no plan to compensate those who made bad buying decisions and lost their homes due to increasing payment schedules. It’s sad but true that these types of suits receive a lot more merit when they affect investors and their pockets than when they affect the middle classer who is trying to make it in our material world.
I have purchased and sold a number of homes. In fact one loan was with Country wide. I knew exactly what was going on, that is my responsibility…if not asked questions. Government should not be bailing out buyers either in my opinion.
No one wants to be responsible for their own actions.
And wern’t these “investors” supposedly better informed buyers than the general public having dealt with the market more. I guess whinning knows no bounds.
Go ahead, AH, sue Countrywide, then it goes bankrupt then where will everyone be who has their mortgage? Knock it off! Suing will get money only in politicos pockets, nothing else!
Countrywide made bad loans and investors made poor investment choices. It’s that simple. It’s no different than investing in a company that doesn’t perform due to poor marketing, bad product design, or better competition. Investors, homeowners, and others who have lost money are looking at everyone but themselves to blame for this crash.
I can’t tell you how many times over the last year I would receive a call fro a loan officer telling me that they “need to lower the premium price on the fire policy” since it was kicking the borrower out of qualification due to their debt to income ratio. We aren’t talking large numbers here either. Sometimes it was literally a matter of $20-$30 a month in premium that was disqualifying the borrower. I told those loan officers “If the borrower has such a tight D to I ratio that $20/month disqualifies them, they shouldn’t be buying the house. Besides the premium is what it is and is non-negotiable”
Practices like that definitely helped facilitate the mortgage crisis and the borrowers shuld be held just as accountable for the mess they now find themselves in as the loan officers who worked the numbers to allow people to buy significantly more home than they could realistically afford to buy.
The other issue is that the financing companies pushed the appraiser to either give an inflated number on the property or just used those appraisers who would cave. This has been a serious problem on the refinancing of ARMs.
Great point DB. We have also rec’d calls asking us to send the “paid binder” for the insurance to the mortgage broker but then asked, by the mortgage broker, to hold the customers check for the insurance payment for 2-3 weeks. Of course we would not comply with this. The person was buying a house and basically had no money. It happened more than once and we quickly eliminated these brokers from our referral sources.
Other than driving home prices back down to where they should be, this downturn in home sales has also done some good by purging the marketplace of some very poor mortgage & real estate brokers.
The fact is the exhorbitant cost of housing is unreachable for most of the country. There is no more ‘American Dream’ but an ‘American Nightmare’ all due to greed. American families are being financially raped for a place to live. Investors, banks, etc. all know how difficult the economy is in this country and greed has just taken over. The only thing that many people think about is how to make money off of people that can’t even afford to pay for rent, never mind to buy a home.
The per capita income in this country is approximately $25,000 according to HUD. So in essence that means that it takes 2 incomes of $25,000 to qualify for a home and all of those “alleged affordable housing developments” only cater to middle income people.
There is presently a 10 year plan to end homelessness. That’s why each city and town is supposed to develop 10% for housing. But these developments are not designed to help the homeless, but the developer, investor, bank, etc.
This country could care less that there are families being evicted by judges to be thrown in the street because they can’t afford to pay rent on $17,000-$25,000. How can single people and extremely low income households afford to live in this country when there is only one household income.
The national average for 1-2 people is $34,000 for bare necessities excluding vacations, birthdays, etc. So how are people supposed to subsist on even $25,000?
Since President Clinton signed NAFTA over 10 years ago, factories have fled the country to give the jobs of the American people over to foreigners causing people to loose their livilihood. These people have to now work 2 jobs to make up for the one job that they made $17 per hour for.
Now I know why some countries don’t like Capitalism. It leaves out a lot of the population to get ahead or be fair and equal and contributes to poverty.
Housing is the top expense, the second is car insurance. In Massachusetts, we are monetarily raped by not only paying 6 years as a form of punishment, but all businesses overcharge us. Where are all the government officials who are supposed to be protecting us?
It makes me sick. I am paying almost $1,900 to Commerce Insurance Company for a 1993 Toyota Camry. I have been paying $100’s of dollars as a form of punishment for one accident that occurred in 2002, then when the step system changed in 2006, I was still paying the already 100’s of dollars set by the step program, but was charged additionally by the new point system, increasing my insurance by $750 instead of 1/2 that for a minor accident that occurred in 2006 that Commerce paid out only $500 after the deductible.
I had no accident in a 3 year period of 1, 2003, 2004, 2005, they deducted a point in 2005, then put the point back on because of the minor accident that occurred in 2006 and then added 3 more points of punishment for the minor accident that occurred in 2006.
When I complained to the Division of Insurance, all they did was regurgitate the information that was given to them by Commerce without doing an investigation by clearly looking at paperwork. Commerce fraudulently told the Division of Insurance that I had a ‘sticker violation’in 2005 or 2006 that’s why they put the point back on. It’s a lie!
Commerce has a Cares Van on Rte 93 that gives free service to the state of Massachusetts…..hmmmmm.
Do I have to sue to get justice? Well, even if I do, I have seen corruption in this arena.
What is going on in our country? We are no better than those communist countries if we are just as corrupt and don’t enforce the law.
People need to get proactive and fight against fraud, corruption and abuse of power!
investors: can make good decisions and bad ones. if they made a bad one, they will lose money and will have to suffer the consequences of that action. suing to retrieve money lost – is not a feasible action. investing is not designed to recoup any money lost. if you sue because of that and expect it, good luck and lose like any other investor. i wud like to invest in a new oil plant because the last oil plant was built over 40 yrs ago. a new one could process oil better and quicker. this would provide more fuel with better quality. if we keep modifing the old ways, it will eventually come a failure. like the military, for example, us warships, most of them are designed to last approx 20 yrs. so why not redesign and make a better oil plant and save money to give the americans a better gas and price.
bankers: they make judgements on individuals – can they make a payment based on their current salary or money income. so not only on homes, but houses and personal loans. they might lose money if they make bad choices and then the bank loses money – who do they sue? nobody!….
so both have to make choices and suffer if they lose money. invest correctly and you make money.
I’m not even going to go into your rant about your insurance rates because you made zaero sense .
But your statements about capitalism are plain wrong. This has been and still is the one country on earth that provides unlimited opportunity for a person who is willing to work hard to achevie the “American Dream”. Problem is most (not all)of the people you speak of who can’t get ahead and pay their bills have fallen prey to the entitlement mentality where they feel that when the going gets rough they expect the government to step in and hand them money rather than they themselves step up and be responsible for their own destiny.
I am a high school dropout. My wife has not worked outside the home in 17 years so she can stay home and be a Mom to our two kids rather them pawn them off on daycare. I started an insurance agency from scratch with zero experience in the industry and nothing more than the drive to succeed and provide for my family. I am successful in life because my wife and I have made it a point to be successful and we both work our collective asses off in the office and at home to make it happen. I am not alone in this.
Countless people in this country succeed because they are driven to succeed and know that self reliance and self determination are the keys to getting where you want to be in life. Set your goals high and with hard work you’ll reach the highest heights. Set your golas low and you find you’ll most likely meet your expectations and be forever blaming someone else for your failures in life.
I am a single Mom with 2 teenagers and I get absolutely no child support from my ex-husband. My children and I live in a nice home and I drive a 4 year old car. I don’t have a college degree though I attended college for 2 1/2 years. I had to quit because going to school and working was to physically demanding. My first job began 7 days after I turned 15 years old. I’ve worked as many as 4 jobs at a time plus attended college. I have a 30-year fixed rate mortgage though I was offered options by my broker. I warned many of my friends who opted for other financial products/mortgages the down-side to their selections. They did not listen and opted to buy $300k – $400k homes versus my $200k home. Eight of my friends opted for interest only/adjustable rates…only 3 of them currently still own their homes. One of my friends sold her house successfully and returned to apartment living. The other 4 have either lost their homes to foreclosure or are currently in the process. I find it heartbreaking to see my friends in this position. I don’t know the answer but I did see this coming. I have a difficult time (with my limited exposure to the market) to believe investors could not predict this situation. They rode the market available as long as it was profitable. If they are willing to surrender their profits then they should be permitted to pursue litigation. If not, then they should hang their head in shame for these efforts.
As a single mom, who has never received child support and no college education I really have to say a couple of things. 1. People need to start being responsible for their own actions and decisions in life. We are all in charge of our own life and decisions, stop blaming others for your lot in life. Its your life and YOU are in charge of it.
2. Yes, the corporate world is/can be greedy….is that something new? DUH!
Denise-You kind of come across like a professional victim-the type of person who isn’t responsible for anything, but “everyone” from the government to big corporations to insurance companies have it out for the “working poor” and you all need to be protected. I have the same problem with my kids. I teach them that they and only they are responsible for how well they do in this world. They all tell me that I’m too hard on them and their parents aren’t like that. Well, it is a tough world and if you have to go through life looking for someone to take care of you, then you will indeed have a hard life and not one that is rich and robust and fufilling.
You should be ashamed of yourselves for not wanting to hold people accountable for unethical behavior. Read Mass General Laws chapter 268a on the conflict of interest laws and there are manyn laws regulating the business behaviors that affect people. I’m proud of all of you single moms, maybe you are martyrs, but some people certainly could care less what goes on in our country and that is why there is so much corruption. We all need to take a pro-active attitude about what is going on. What happened to accountability for ones’ behavior especially when what we do affects other people’s lives. Do you live in New Hampshire? Live and let live, but they really don’t practice what they preach? What are we teaching the upcomeing generation about morals and values and ethics in business?
We all need to be more informed it seems about what is right and wrong. It seems to be ok that businesses and government can hurt another person and not even flinch when they destroy someone.
Why do you suspect there are laws and regulations governing business? DUH!
You sound like an ‘I don’t give a ______” person. You obviously don’t goive back to your community. It’s not about handouts. It’s about reality and it seems you don’t live in reality and are under the assumption that everybody is like you. If you were able to make it, why don’t you give back to your community by showing them how to access what you did when you were poor. In those days, they probably didn’t give tests or whatever it took for you to get what you have. You obviously don’t care about people, you sound like a greedy, selfish person.
“What happened to accountability for ones’ behavior…”
Interesting concept that many of the people who took out this huge loans should have considered before the signed the dotted line. Of course, it was the greedy gov’t, ceo, president of the company, who made them sign, so its not really their fault.
The people who took out loans they could never hope to repay should take responsibility for their actions.
The lenders and brokers pushing those loans should take responsibility for their unscrupulous, preditory lending practices.
Many of you seem to forget the lenders are every bit at fault for this situation as the poor saps who took the loans. Sadly, they and many of the rest of us could wind up paying for this.
Financing agreements for sub-prime mortgages required private mortgage insurance. The mortgage companies have underwriters who review the financial statements of the applicants and agree to insure the mortgage. If there was no deception in the underwriting process the foundation of the lawsuit by investors would appear to be defensible. If, however, there was collusion in this process it would appear an Attorney General should be prosecuting those involved. The insult of the golden parachute available to the outgoing CEO of Countrywide Financial (due to its’ purchase by BofA) is probably what has stirred animosity toward anyone who did business with Countrywide Financial.
How did my husband qualify for such a huge loan? He is the only one in title and has not worked for 10 years? They never asked him for prior tax papers and yet he was approved. I am retired and on a fixed income. My husband is going to leave me and I’m stuck.
I AM TWO MONTHS BEHIND WITH MY COUNTRYWIDE MORTGAGE AND COUNTRYWIDE HAS BEEN ADDING LATE CHARGES IN ADDITION TO DRIVE BY FEES TO CHECK IF MY PROPERTY IS BEING MAINTAINED AND IF I STILL LIVE THERE.
COUNTRYWIDE KNOWS DAM WELL THE HOA MAINTAINS THE PROPERTY. THEY ALSO KNOW THAT I AM STILL LIVING THERE BECAUSE THEY HAD SENT ME CERTIFIED MAIL IN WHICH I HAD TO SIGN. IF COUNTRYWIDE WAS STILL NOT SURE ALL THEY HAD TO DO IS KNOCK ON MY DOOR TO CHECK IF I AM STILL THERE. I AM TRYING HARD NOT TO LET MY PAYMENTS BECOME THREE MONTHS BEHIND. WHEN I PERCHASED MY PROPERTY I PUT OVER $100.000 DOWN ON THE TOWNHOME AND THEY DID NOT CARE WHAT MY INCOME WAS. I AM NOW UNEMPLOYED AND TRIED TO HAVE MY PAYMENTS REDUCED UNTIL I FIND WORK BUT THEY SAID IT CANNOT BE DONE BECAUSE MY INCOME NOW IS TOO LOW. WHEN THE SOB’S GOT MY HUNDRED GRAND IT WAS FINE, NOW ALL OF A SUDDEN IT IS NOT ENOUGH INCOME. I THINK THAT LENDERS MUST BE GETTING A TAX W/O WHEN THEY FORECLOSE A HOME THAt could be one reason they are so anxious to do so. IF THEY INDEED ARE GETTING A W/O ON TAXES FOR THEAT REASON IT SHOULD BE ELIMINATED AND MAYBE THEY WON’T BE SO INCLINED TO FORECLOSE ON HOMES.
WE THE PEOPLE NEED TO START DEMONSTRATING ACROSS THE COUNTRY TO LET THE POLITIANS AND THE LENDERS THAT WE ARE NOT GOING TO TAKE IT ANYMORE.
RESPOND IF YOU ARE WILLING TO ORGANIZE
I wrote to Countrywide about what us wrong with the house,the dishwasher didn’t work at all,the frig was going out,the store was stuck on high heat,some of the wall heaters didnt work(it was always cold in the house in the winter)and the sealing in the livingroom was coming down. When we bought the house,they said that the roof was done 5 years ago and that they had someone come in to inspected the house and it was ready to sale.We couldn’t see much outside,cuz there was snow all over.We found out after the snow was gone that it was the same shingle’s when it was builded.So that was all a lie.I became disable and couldn’t work anymore,the Docture said so (got that in writing).I applied SSI and SSDI,got a letter saying that I applied for it.When I got all my letters from everyone I needed to send to Countrywide.I wrote Countrywide about what was wrong with the house when we moved in(they didn’t care)and the letter from the Docture about my heart working 15% and tat my lungs are bad.Copy of letters when I was in the hospital and a letter from SSI, SSDI that I applied from it.In the letter I wrote that I would mail a payment ad half till we get caught up, once I start getting checks.We didn’t hear from Countrywide back about it.So when I started to get checks,I did pay a payment and a half(with a money order) and they mailed it back to us and told us to mail a certifide check.We went to 2 banks and they said that a money order is a certifide check.Than not to long after we got the monet order back,Countrywide did a foreclosure on us.We didn’t kno what to do and than we got a letter about refinace the house and get ahold of them,so I did,with a friend of mind(her mom is a lawyer too but she didn’t do forclosure’s)But my friend called Countrywide for and I gave the guy the ok to talk to he.(I had the stay away from getting upset or hyper other why’s I would end up in the hospital all the time when I get that way.When she was talking to him(I got his name too),she had him on the speaker phone so I heard everythng.He told her to fax all copys of income and where we pay bills and how much we pay for bills.So she faxed all the info(got copys of that).So we waited or abut two weeks than we called Countrywide back to find out whats up.The lady that Countrywide said that there wasn’t anyone with that name that works there(she was very rude to my friend and I)I want to know if theres no guy working there with that name,where did the fax go too.The fax went through to Countrywide,I got copys of it.I wrote and called these people for help and they didn’t help much at all.Here is the list: (1)Kent Conrad(they sid that they couldn’t help
(2)ND.Department of Financial Institions(talked to Sheryl Sailer and she said to mail all the documents that I have and I did that.Never heard back from her so I called her twice and left message’s one her phone and I talk to her boss one time too to have her call me,she never called back or wrote to me)
(3)ND. Attorney General(sent them all the documents they wrote and said that they couldn’t,mean while the house is ND.Can’t see why they couldn’t help)
(4)Attorney General of CA.(I sent them all the documents too,din’t hear from so I called them in Feb.2009 and they said that they went to court in Dec.2008 and that Countrywide was to get ahold of us about the court hearing and they never did)
(5)Byron Dorgan(he wrote and told me to get ahold of Legal Aid,ND.Department of Institions(which I already did)and Hud
(6)Legal Aid(called them,they said that they couldn’t help)
(7)Hud(called them,they said they couldn’t help)
(8)Countrywide(called them in Feb.2009 cuz of the phone call I made to Attorney General of CA..Countryide act like I didn’t know what I was talking about so they put me on hold for about 15 mins. and back on the phone and told me to get ahold of their Attorney)
(9)Mackoff Attorney(emailed them twice to Angel Aplute about the court hearing in Dec.2008 with CA. Attorney General,to find out what happened.She emailed me back and I feel like I got the run around.She emailed me copys of the foreclosure back in Dec.2007,which I already have)
(((After all this mess I ended up with a defibrillator in Oct.2008 cuz my heart was stopping alot.So I got a defibrillator to keep me alive.After my surgery,I ended up in the ER many of time yet cuz of my heart and blood pressure.In Feb.2009 the Sheriffs office came to get us out of the house and now they gotthe house up for sale and it looks the same outside the house.They didn’t fix up and it’s not up too code.There more to this story and its all ture.))I hope you all understand my letter,I’m not too good of writing letters.But if anyone knows or can help us please let us know.Thank you for reading this letter and the time.
Sorry you have had so much trouble but ultimately your fight should lie with the realtor who sold you the house and the realtor who represented you in the purchase, not the loan company. If your story is true about the condition of the house then the realtors misrepresented it (possibly the appraiser as well) not Countrywide. As far as your disability goes; that is the way the world works. Becoming disabled does not automatically release one from their contractual obligations. Become disabled and cannot make your car payment you will most likely find your car reposessed. House payment? You face foreclosure. Can’t pay your credit cards they will take you to collections. The world of business is not a warm and fuzzy, feel good world. It is for the most part heartless, cruel and un-yieldng. Sad, but true.
Well I had heart surgery on Oct. 2008. My heart was stopping so they had to put a defibrillator in so my heart keep going. From this day my heart is only working 30%.Fighting with Countrywide isn’t helping with my health and mt blood pressure doesn’t want to go down. Jan. 2009 Countrywide Loan(Bank of New York), sheriff department and realtor had us removed from the house and I wasn’t healed up yet. We told them about my surgry but they didn’t care. But we still have a class action against them going. And now we’re having a hard time getting a place now cuz of the foreclosure (the judgement).I didn’t ask or wanted to end up sick. There’s got to be some legal rights out there for us.
If you started in the 1950’s you got a lucky break and you have a helpmate. Try starting now with the high cost of living and slow economy.
Did you have family support?
Maybe you should read…The Working Poor. Stop living in the past. These days we are living in are not the same. They lack moral and ethical values.
Yes, I am upset. With the fraud and corruption in business, government, and around us. Like Barack said….Change… This country needs change. Look around you. Stop living in a glass bubble.
Knowing whether you can afford a home is personal decision and responsibility. What kind of idiot relies on a bank or mortgage company (or any other vendor that is selling things) to make that determination for them. I have no sympathy for those who blame others for their ingorance and poor judgements. What’s next? Provide every breathing being with a personl assessment of what they’re capable of in everything in life.
They know big screen TV, the Apple phone, and Playstation 3 but they can’t figure out how much they can afford a month?
You can bet this suit is inspired because INVESTORS lost money due to Countrywide’s loosening of underwriting standards. There is obviously no plan to compensate those who made bad buying decisions and lost their homes due to increasing payment schedules. It’s sad but true that these types of suits receive a lot more merit when they affect investors and their pockets than when they affect the middle classer who is trying to make it in our material world.
Looks like typical securities lawsuit….investors trying to recoup losses from a poor investment decision and lawyers trying to get rich.
Dread, I agree with your comment: “I have no sympathy for those who blame others for their ingorance and poor judgements.”
But the bank said I could afford this house. They wouldn’t lie to me would they? And what does adjustable mean?
I have purchased and sold a number of homes. In fact one loan was with Country wide. I knew exactly what was going on, that is my responsibility…if not asked questions. Government should not be bailing out buyers either in my opinion.
No one wants to be responsible for their own actions.
And wern’t these “investors” supposedly better informed buyers than the general public having dealt with the market more. I guess whinning knows no bounds.
Go ahead, AH, sue Countrywide, then it goes bankrupt then where will everyone be who has their mortgage? Knock it off! Suing will get money only in politicos pockets, nothing else!
Countrywide made bad loans and investors made poor investment choices. It’s that simple. It’s no different than investing in a company that doesn’t perform due to poor marketing, bad product design, or better competition. Investors, homeowners, and others who have lost money are looking at everyone but themselves to blame for this crash.
I can’t tell you how many times over the last year I would receive a call fro a loan officer telling me that they “need to lower the premium price on the fire policy” since it was kicking the borrower out of qualification due to their debt to income ratio. We aren’t talking large numbers here either. Sometimes it was literally a matter of $20-$30 a month in premium that was disqualifying the borrower. I told those loan officers “If the borrower has such a tight D to I ratio that $20/month disqualifies them, they shouldn’t be buying the house. Besides the premium is what it is and is non-negotiable”
Practices like that definitely helped facilitate the mortgage crisis and the borrowers shuld be held just as accountable for the mess they now find themselves in as the loan officers who worked the numbers to allow people to buy significantly more home than they could realistically afford to buy.
The other issue is that the financing companies pushed the appraiser to either give an inflated number on the property or just used those appraisers who would cave. This has been a serious problem on the refinancing of ARMs.
Great point DB. We have also rec’d calls asking us to send the “paid binder” for the insurance to the mortgage broker but then asked, by the mortgage broker, to hold the customers check for the insurance payment for 2-3 weeks. Of course we would not comply with this. The person was buying a house and basically had no money. It happened more than once and we quickly eliminated these brokers from our referral sources.
Other than driving home prices back down to where they should be, this downturn in home sales has also done some good by purging the marketplace of some very poor mortgage & real estate brokers.
The fact is the exhorbitant cost of housing is unreachable for most of the country. There is no more ‘American Dream’ but an ‘American Nightmare’ all due to greed. American families are being financially raped for a place to live. Investors, banks, etc. all know how difficult the economy is in this country and greed has just taken over. The only thing that many people think about is how to make money off of people that can’t even afford to pay for rent, never mind to buy a home.
The per capita income in this country is approximately $25,000 according to HUD. So in essence that means that it takes 2 incomes of $25,000 to qualify for a home and all of those “alleged affordable housing developments” only cater to middle income people.
There is presently a 10 year plan to end homelessness. That’s why each city and town is supposed to develop 10% for housing. But these developments are not designed to help the homeless, but the developer, investor, bank, etc.
This country could care less that there are families being evicted by judges to be thrown in the street because they can’t afford to pay rent on $17,000-$25,000. How can single people and extremely low income households afford to live in this country when there is only one household income.
The national average for 1-2 people is $34,000 for bare necessities excluding vacations, birthdays, etc. So how are people supposed to subsist on even $25,000?
Since President Clinton signed NAFTA over 10 years ago, factories have fled the country to give the jobs of the American people over to foreigners causing people to loose their livilihood. These people have to now work 2 jobs to make up for the one job that they made $17 per hour for.
Now I know why some countries don’t like Capitalism. It leaves out a lot of the population to get ahead or be fair and equal and contributes to poverty.
Housing is the top expense, the second is car insurance. In Massachusetts, we are monetarily raped by not only paying 6 years as a form of punishment, but all businesses overcharge us. Where are all the government officials who are supposed to be protecting us?
It makes me sick. I am paying almost $1,900 to Commerce Insurance Company for a 1993 Toyota Camry. I have been paying $100’s of dollars as a form of punishment for one accident that occurred in 2002, then when the step system changed in 2006, I was still paying the already 100’s of dollars set by the step program, but was charged additionally by the new point system, increasing my insurance by $750 instead of 1/2 that for a minor accident that occurred in 2006 that Commerce paid out only $500 after the deductible.
I had no accident in a 3 year period of 1, 2003, 2004, 2005, they deducted a point in 2005, then put the point back on because of the minor accident that occurred in 2006 and then added 3 more points of punishment for the minor accident that occurred in 2006.
When I complained to the Division of Insurance, all they did was regurgitate the information that was given to them by Commerce without doing an investigation by clearly looking at paperwork. Commerce fraudulently told the Division of Insurance that I had a ‘sticker violation’in 2005 or 2006 that’s why they put the point back on. It’s a lie!
Commerce has a Cares Van on Rte 93 that gives free service to the state of Massachusetts…..hmmmmm.
Do I have to sue to get justice? Well, even if I do, I have seen corruption in this arena.
What is going on in our country? We are no better than those communist countries if we are just as corrupt and don’t enforce the law.
People need to get proactive and fight against fraud, corruption and abuse of power!
investors: can make good decisions and bad ones. if they made a bad one, they will lose money and will have to suffer the consequences of that action. suing to retrieve money lost – is not a feasible action. investing is not designed to recoup any money lost. if you sue because of that and expect it, good luck and lose like any other investor. i wud like to invest in a new oil plant because the last oil plant was built over 40 yrs ago. a new one could process oil better and quicker. this would provide more fuel with better quality. if we keep modifing the old ways, it will eventually come a failure. like the military, for example, us warships, most of them are designed to last approx 20 yrs. so why not redesign and make a better oil plant and save money to give the americans a better gas and price.
bankers: they make judgements on individuals – can they make a payment based on their current salary or money income. so not only on homes, but houses and personal loans. they might lose money if they make bad choices and then the bank loses money – who do they sue? nobody!….
so both have to make choices and suffer if they lose money. invest correctly and you make money.
Wow Denise, you sound bitter.
I’m not even going to go into your rant about your insurance rates because you made zaero sense .
But your statements about capitalism are plain wrong. This has been and still is the one country on earth that provides unlimited opportunity for a person who is willing to work hard to achevie the “American Dream”. Problem is most (not all)of the people you speak of who can’t get ahead and pay their bills have fallen prey to the entitlement mentality where they feel that when the going gets rough they expect the government to step in and hand them money rather than they themselves step up and be responsible for their own destiny.
I am a high school dropout. My wife has not worked outside the home in 17 years so she can stay home and be a Mom to our two kids rather them pawn them off on daycare. I started an insurance agency from scratch with zero experience in the industry and nothing more than the drive to succeed and provide for my family. I am successful in life because my wife and I have made it a point to be successful and we both work our collective asses off in the office and at home to make it happen. I am not alone in this.
Countless people in this country succeed because they are driven to succeed and know that self reliance and self determination are the keys to getting where you want to be in life. Set your goals high and with hard work you’ll reach the highest heights. Set your golas low and you find you’ll most likely meet your expectations and be forever blaming someone else for your failures in life.
I am a single Mom with 2 teenagers and I get absolutely no child support from my ex-husband. My children and I live in a nice home and I drive a 4 year old car. I don’t have a college degree though I attended college for 2 1/2 years. I had to quit because going to school and working was to physically demanding. My first job began 7 days after I turned 15 years old. I’ve worked as many as 4 jobs at a time plus attended college. I have a 30-year fixed rate mortgage though I was offered options by my broker. I warned many of my friends who opted for other financial products/mortgages the down-side to their selections. They did not listen and opted to buy $300k – $400k homes versus my $200k home. Eight of my friends opted for interest only/adjustable rates…only 3 of them currently still own their homes. One of my friends sold her house successfully and returned to apartment living. The other 4 have either lost their homes to foreclosure or are currently in the process. I find it heartbreaking to see my friends in this position. I don’t know the answer but I did see this coming. I have a difficult time (with my limited exposure to the market) to believe investors could not predict this situation. They rode the market available as long as it was profitable. If they are willing to surrender their profits then they should be permitted to pursue litigation. If not, then they should hang their head in shame for these efforts.
As a single mom, who has never received child support and no college education I really have to say a couple of things. 1. People need to start being responsible for their own actions and decisions in life. We are all in charge of our own life and decisions, stop blaming others for your lot in life. Its your life and YOU are in charge of it.
2. Yes, the corporate world is/can be greedy….is that something new? DUH!
Denise-You kind of come across like a professional victim-the type of person who isn’t responsible for anything, but “everyone” from the government to big corporations to insurance companies have it out for the “working poor” and you all need to be protected. I have the same problem with my kids. I teach them that they and only they are responsible for how well they do in this world. They all tell me that I’m too hard on them and their parents aren’t like that. Well, it is a tough world and if you have to go through life looking for someone to take care of you, then you will indeed have a hard life and not one that is rich and robust and fufilling.
You should be ashamed of yourselves for not wanting to hold people accountable for unethical behavior. Read Mass General Laws chapter 268a on the conflict of interest laws and there are manyn laws regulating the business behaviors that affect people. I’m proud of all of you single moms, maybe you are martyrs, but some people certainly could care less what goes on in our country and that is why there is so much corruption. We all need to take a pro-active attitude about what is going on. What happened to accountability for ones’ behavior especially when what we do affects other people’s lives. Do you live in New Hampshire? Live and let live, but they really don’t practice what they preach? What are we teaching the upcomeing generation about morals and values and ethics in business?
We all need to be more informed it seems about what is right and wrong. It seems to be ok that businesses and government can hurt another person and not even flinch when they destroy someone.
Why do you suspect there are laws and regulations governing business? DUH!
You sound like an ‘I don’t give a ______” person. You obviously don’t goive back to your community. It’s not about handouts. It’s about reality and it seems you don’t live in reality and are under the assumption that everybody is like you. If you were able to make it, why don’t you give back to your community by showing them how to access what you did when you were poor. In those days, they probably didn’t give tests or whatever it took for you to get what you have. You obviously don’t care about people, you sound like a greedy, selfish person.
“What happened to accountability for ones’ behavior…”
Interesting concept that many of the people who took out this huge loans should have considered before the signed the dotted line. Of course, it was the greedy gov’t, ceo, president of the company, who made them sign, so its not really their fault.
The people who took out loans they could never hope to repay should take responsibility for their actions.
The lenders and brokers pushing those loans should take responsibility for their unscrupulous, preditory lending practices.
Many of you seem to forget the lenders are every bit at fault for this situation as the poor saps who took the loans. Sadly, they and many of the rest of us could wind up paying for this.
Nuff said.
agreed! that is what i have said in my earlier statements….
Financing agreements for sub-prime mortgages required private mortgage insurance. The mortgage companies have underwriters who review the financial statements of the applicants and agree to insure the mortgage. If there was no deception in the underwriting process the foundation of the lawsuit by investors would appear to be defensible. If, however, there was collusion in this process it would appear an Attorney General should be prosecuting those involved. The insult of the golden parachute available to the outgoing CEO of Countrywide Financial (due to its’ purchase by BofA) is probably what has stirred animosity toward anyone who did business with Countrywide Financial.
How did my husband qualify for such a huge loan? He is the only one in title and has not worked for 10 years? They never asked him for prior tax papers and yet he was approved. I am retired and on a fixed income. My husband is going to leave me and I’m stuck.
I AM TWO MONTHS BEHIND WITH MY COUNTRYWIDE MORTGAGE AND COUNTRYWIDE HAS BEEN ADDING LATE CHARGES IN ADDITION TO DRIVE BY FEES TO CHECK IF MY PROPERTY IS BEING MAINTAINED AND IF I STILL LIVE THERE.
COUNTRYWIDE KNOWS DAM WELL THE HOA MAINTAINS THE PROPERTY. THEY ALSO KNOW THAT I AM STILL LIVING THERE BECAUSE THEY HAD SENT ME CERTIFIED MAIL IN WHICH I HAD TO SIGN. IF COUNTRYWIDE WAS STILL NOT SURE ALL THEY HAD TO DO IS KNOCK ON MY DOOR TO CHECK IF I AM STILL THERE. I AM TRYING HARD NOT TO LET MY PAYMENTS BECOME THREE MONTHS BEHIND. WHEN I PERCHASED MY PROPERTY I PUT OVER $100.000 DOWN ON THE TOWNHOME AND THEY DID NOT CARE WHAT MY INCOME WAS. I AM NOW UNEMPLOYED AND TRIED TO HAVE MY PAYMENTS REDUCED UNTIL I FIND WORK BUT THEY SAID IT CANNOT BE DONE BECAUSE MY INCOME NOW IS TOO LOW. WHEN THE SOB’S GOT MY HUNDRED GRAND IT WAS FINE, NOW ALL OF A SUDDEN IT IS NOT ENOUGH INCOME. I THINK THAT LENDERS MUST BE GETTING A TAX W/O WHEN THEY FORECLOSE A HOME THAt could be one reason they are so anxious to do so. IF THEY INDEED ARE GETTING A W/O ON TAXES FOR THEAT REASON IT SHOULD BE ELIMINATED AND MAYBE THEY WON’T BE SO INCLINED TO FORECLOSE ON HOMES.
WE THE PEOPLE NEED TO START DEMONSTRATING ACROSS THE COUNTRY TO LET THE POLITIANS AND THE LENDERS THAT WE ARE NOT GOING TO TAKE IT ANYMORE.
RESPOND IF YOU ARE WILLING TO ORGANIZE
I wrote to Countrywide about what us wrong with the house,the dishwasher didn’t work at all,the frig was going out,the store was stuck on high heat,some of the wall heaters didnt work(it was always cold in the house in the winter)and the sealing in the livingroom was coming down. When we bought the house,they said that the roof was done 5 years ago and that they had someone come in to inspected the house and it was ready to sale.We couldn’t see much outside,cuz there was snow all over.We found out after the snow was gone that it was the same shingle’s when it was builded.So that was all a lie.I became disable and couldn’t work anymore,the Docture said so (got that in writing).I applied SSI and SSDI,got a letter saying that I applied for it.When I got all my letters from everyone I needed to send to Countrywide.I wrote Countrywide about what was wrong with the house when we moved in(they didn’t care)and the letter from the Docture about my heart working 15% and tat my lungs are bad.Copy of letters when I was in the hospital and a letter from SSI, SSDI that I applied from it.In the letter I wrote that I would mail a payment ad half till we get caught up, once I start getting checks.We didn’t hear from Countrywide back about it.So when I started to get checks,I did pay a payment and a half(with a money order) and they mailed it back to us and told us to mail a certifide check.We went to 2 banks and they said that a money order is a certifide check.Than not to long after we got the monet order back,Countrywide did a foreclosure on us.We didn’t kno what to do and than we got a letter about refinace the house and get ahold of them,so I did,with a friend of mind(her mom is a lawyer too but she didn’t do forclosure’s)But my friend called Countrywide for and I gave the guy the ok to talk to he.(I had the stay away from getting upset or hyper other why’s I would end up in the hospital all the time when I get that way.When she was talking to him(I got his name too),she had him on the speaker phone so I heard everythng.He told her to fax all copys of income and where we pay bills and how much we pay for bills.So she faxed all the info(got copys of that).So we waited or abut two weeks than we called Countrywide back to find out whats up.The lady that Countrywide said that there wasn’t anyone with that name that works there(she was very rude to my friend and I)I want to know if theres no guy working there with that name,where did the fax go too.The fax went through to Countrywide,I got copys of it.I wrote and called these people for help and they didn’t help much at all.Here is the list: (1)Kent Conrad(they sid that they couldn’t help
(2)ND.Department of Financial Institions(talked to Sheryl Sailer and she said to mail all the documents that I have and I did that.Never heard back from her so I called her twice and left message’s one her phone and I talk to her boss one time too to have her call me,she never called back or wrote to me)
(3)ND. Attorney General(sent them all the documents they wrote and said that they couldn’t,mean while the house is ND.Can’t see why they couldn’t help)
(4)Attorney General of CA.(I sent them all the documents too,din’t hear from so I called them in Feb.2009 and they said that they went to court in Dec.2008 and that Countrywide was to get ahold of us about the court hearing and they never did)
(5)Byron Dorgan(he wrote and told me to get ahold of Legal Aid,ND.Department of Institions(which I already did)and Hud
(6)Legal Aid(called them,they said that they couldn’t help)
(7)Hud(called them,they said they couldn’t help)
(8)Countrywide(called them in Feb.2009 cuz of the phone call I made to Attorney General of CA..Countryide act like I didn’t know what I was talking about so they put me on hold for about 15 mins. and back on the phone and told me to get ahold of their Attorney)
(9)Mackoff Attorney(emailed them twice to Angel Aplute about the court hearing in Dec.2008 with CA. Attorney General,to find out what happened.She emailed me back and I feel like I got the run around.She emailed me copys of the foreclosure back in Dec.2007,which I already have)
(((After all this mess I ended up with a defibrillator in Oct.2008 cuz my heart was stopping alot.So I got a defibrillator to keep me alive.After my surgery,I ended up in the ER many of time yet cuz of my heart and blood pressure.In Feb.2009 the Sheriffs office came to get us out of the house and now they gotthe house up for sale and it looks the same outside the house.They didn’t fix up and it’s not up too code.There more to this story and its all ture.))I hope you all understand my letter,I’m not too good of writing letters.But if anyone knows or can help us please let us know.Thank you for reading this letter and the time.
Sorry you have had so much trouble but ultimately your fight should lie with the realtor who sold you the house and the realtor who represented you in the purchase, not the loan company. If your story is true about the condition of the house then the realtors misrepresented it (possibly the appraiser as well) not Countrywide. As far as your disability goes; that is the way the world works. Becoming disabled does not automatically release one from their contractual obligations. Become disabled and cannot make your car payment you will most likely find your car reposessed. House payment? You face foreclosure. Can’t pay your credit cards they will take you to collections. The world of business is not a warm and fuzzy, feel good world. It is for the most part heartless, cruel and un-yieldng. Sad, but true.
I wish you the best in your circumstances
Well I had heart surgery on Oct. 2008. My heart was stopping so they had to put a defibrillator in so my heart keep going. From this day my heart is only working 30%.Fighting with Countrywide isn’t helping with my health and mt blood pressure doesn’t want to go down. Jan. 2009 Countrywide Loan(Bank of New York), sheriff department and realtor had us removed from the house and I wasn’t healed up yet. We told them about my surgry but they didn’t care. But we still have a class action against them going. And now we’re having a hard time getting a place now cuz of the foreclosure (the judgement).I didn’t ask or wanted to end up sick. There’s got to be some legal rights out there for us.