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Calif. Gov. Signs Law to Circumvent Mortgage Settlement Fund Usage
StopForeclosureFraud.com ^ | Sept. 11, 2018 | 2010-18 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.

Posted on 09/16/2018 9:24:19 AM PDT by RideForever

California Gov. Jerry Brown has signed into law a bill authored by the Democrat-controlled legislature that voids a court order mandating the repayment of $331 million to a special fundcreated to help victims of foreclosure abuse during the mortgage crisis. ...

(Excerpt) Read more at stopforeclosurefraud.com ...


TOPICS: Constitution/Conservatism; Crime/Corruption; News/Current Events; US: California
KEYWORDS: brown; california; mortgage
How does Gov. 'Moonbeam' Brown expect a state law passed retroactively to void a Federal court order ordering commercial banks to pay a penalty to states from the banking crisis under Obama? Even the state of CA ruled against him 2 years ago for misdirecting the funds to pay off state housing bonds.
1 posted on 09/16/2018 9:24:19 AM PDT by RideForever
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To: RideForever

Just making the law consistent with their actions.


2 posted on 09/16/2018 9:27:26 AM PDT by TexasGator (Z1)
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To: RideForever

Moonbeam steals funds meant to keep widows and children in their homes and off the streets. Guess Moonbeam and his cronies can buy a couple extra Tesla electric cars to save the planet.


3 posted on 09/16/2018 9:34:05 AM PDT by RetiredTexasVet (Start using cash and checks or the elite class and bankers will make "cashless" the norm.)
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To: RideForever

There’s always high speed rail money.


4 posted on 09/16/2018 9:39:46 AM PDT by umgud
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To: TexasGator

Looters will loot.
These funds will NOT go directly to damaged homeowners but to organizations set up to ‘help’ these homeowners. See ACORN for model.


5 posted on 09/16/2018 9:40:08 AM PDT by griswold3 (Just another unlicensed nonconformist in a dangerous Liberal world.)
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To: RetiredTexasVet

No no no. Jerry the fairy has to use that money to support the illegal aliens (not undocumented immigrants) they’ve given sanctuary to.


6 posted on 09/16/2018 9:43:43 AM PDT by antidemoncrat
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To: RideForever

This is not exactly relevant to this article, but the old lady who used to live across the street from us got a reverse mortgage and then moved into a nursing home a couple months later and then died. Her drug dealing son moved into the house and kept collecting the reverse mortgage payments. He made a huge mess out of the house which became a hub of criminal activity. The city code enforcement people from the city started fining “the owner”, the little old lady who was dead. Her son had no legal responsibility for his dead mother and had no obligation to pay anything and was quite amused by this.

HUD who was officially the owner of the house was contacted about this abuse multiple times. But the reverse mortgage payments kept going to the son. Finally the house went on the market, but by that time the payments to the son added up to far more than the house was worth, so HUD refused to accept even what the realtor “sold” the house for, an amount that they signed off on to begin with.

So for years this eye sore and magnet for criminal activity has remained occupied only by criminals and homeless squatters who continue to do damage to it. I fully expect it to be eventually torn down. But this has been quite an eye opening experience as to the complete incompetence and ineffectiveness of both city and HUD officials. For all I know the son is still collecting the reverse mortgage payments. Despite never having a job he still drives around in a brand new sports car.


7 posted on 09/16/2018 9:45:40 AM PDT by fireman15
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To: RideForever

Bump


8 posted on 09/16/2018 10:00:58 AM PDT by lowbridge
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To: fireman15

This is not exactly relevant to this article, but here is audio of a Bush speech, just a couple years prior to the epic housing collapse, of Bush demanding home-loans for millions of totally unqualified minorities.

https://www.youtube.com/watch?v=GkAtUq0OJ68


9 posted on 09/16/2018 10:02:48 AM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: fireman15

Of course that was before Bush bailed out the banks with tens of hundreds of billions in American treasure!


10 posted on 09/16/2018 10:07:33 AM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: RideForever
Back when Brown was Governor the first time he railed against Proposition 13 which cut property taxes significantly. It passed anyways. That law saved my mother (and me!) from having to move out of our house from heavy taxation. I remember in college a few years later a liberal friend speaking against prop. 13. After I told him my story he actually shut up!(They don't say "If it's Brown , flush it!", for nothing!)
11 posted on 09/16/2018 10:12:29 AM PDT by Nateman (If the left is not screaming, you are doing it wrong.)
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To: Nateman
Prop 13 is grand for those who've owned their homes for decades. Of course they don't dare sell and try to move up within the state as they're property taxes will likely quadruple.

Same with the poor souls who want to buy a home for the first time. They'll be paying 10x what Grandma is for a smaller, lesser home that's sitting right next door.

Of course the government knew eventually all the Grandma's would be dead and gone and those taking her place, basically the boomers and the following generation, would eventually buy her property and would be robbed and looted by outrageously sky high tax bills, every single month.

A big win win for big government. And all those wanting to buy a home following Grandma, get economically gang banged.

12 posted on 09/16/2018 10:24:52 AM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: dragnet2
Prop 13 is grand for those who've owned their homes for decades.

That is not the fault of Prop 13. This is the greedy looters in Sacramento robbing them again. If anything a similar proposition needs to pass again reducing those rates. California not only needs a balanced budget admendment but a restraint on what it can take in as well. What better way to starve RATS then to limit the loot they can get?

13 posted on 09/16/2018 10:51:31 AM PDT by Nateman (If the left is not screaming, you are doing it wrong.)
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To: Nateman
That is not the fault of Prop 13.

Not the fault, but it's certainly the result.

They got all those who had existing homes to pass the vote which I don't blame them...But all others got perpetually screwed. And government knew all along, eventually all the grandmas would be gone, and eventually everyone would be looted by big property tax.

14 posted on 09/16/2018 11:05:49 AM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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