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Two brokers of Georgia have filed a suit against 13 banks including the 5 mega ones with whom the attorneys general are negotiating settlement talks. The charge is that they charged attorneys’ fees from loans granted to veterans, which is against the law, and then concealed it to get reimbursed by the U.S. Government for defaulting loans.
The gainers from foreclosures are the firms making contact with and evicting borrowers. The amount they get from mortgage firms like Fannie Mae is far in excess of loans due. Taxpayers shoulder the burden as the government balances the budget of its subsidiaries like Fannie.
After having gone through foreclosure the American Heritage Academy has found its new address in the premises of a local church – New Life Church. The latter is keen to help. Lease agreement has not been finalized. The money required for starting as yet to be fully raised.
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