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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Soul Crusher on April 18, 2013, 08:31:39 AM
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The Government's Mortgage Settlement Checks Bounced
Rob Wile|Apr. 18, 2013, 9:55 AM|925|6
Checks sent out by the government to provide financial relief to owners of distressed homes bounced, the New York Times' Jessica Silver-Greenberg and Ben Protess report.
The funds come from a $3.6 billion settlement the government reached with the nation's largest banks over wrongful evictions and other actions against underwater mortgage holders.
It's not clear how many homeowners received bad checks, but housing advocates coast-to-coast, as well as regulators, say they've received a flood of complaints, the pair write.
From the Times:
In recent days, problems arose at Rust Consulting, a firm chosen to distribute the checks, people briefed on the matter said. After collecting the $3.6 billion from the banks, these people said, Rust failed to move the money into a central account at Huntington National Bank in Ohio, the bank that issued the checks to homeowners.
Many banks, after spotting a phone number for Huntington on the back of the checks and confirming the legitimacy of the money, agreed to process the payments. But some credit unions, check cashers and community banks apparently looked only at the account number on the unfamiliar-looking checks and ultimately found a zero balance, the people briefed on the matter said.
The government says they believe the issue has been resolved and are urging homeowners to try again.
Read the full story on NYTimes.com >
Read more: http://www.businessinsider.com/mortgage-relief-checks-bounced-2013-4#ixzz2QpTsXC1X
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Ah.
The government.
They do a great job.
Just look at Hurricane Sandy. HEHEHEHEE!!
I can't wait for them to apply their expertise to health care. Just look at their splendid record. The way the government has been able to manage social security, medicare, and the post office.
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The Government's Mortgage Settlement Checks Bounced
Rob Wile|Apr. 18, 2013, 9:55 AM|925|6
Checks sent out by the government to provide financial relief to owners of distressed homes bounced, the New York Times' Jessica Silver-Greenberg and Ben Protess report.
The funds come from a $3.6 billion settlement the government reached with the nation's largest banks over wrongful evictions and other actions against underwater mortgage holders.
It's not clear how many homeowners received bad checks, but housing advocates coast-to-coast, as well as regulators, say they've received a flood of complaints, the pair write.
From the Times:
In recent days, problems arose at Rust Consulting, a firm chosen to distribute the checks, people briefed on the matter said. After collecting the $3.6 billion from the banks, these people said, Rust failed to move the money into a central account at Huntington National Bank in Ohio, the bank that issued the checks to homeowners.
Many banks, after spotting a phone number for Huntington on the back of the checks and confirming the legitimacy of the money, agreed to process the payments. But some credit unions, check cashers and community banks apparently looked only at the account number on the unfamiliar-looking checks and ultimately found a zero balance, the people briefed on the matter said.
The government says they believe the issue has been resolved and are urging homeowners to try again.
Read the full story on NYTimes.com >
Read more: http://www.businessinsider.com/mortgage-relief-checks-bounced-2013-4#ixzz2QpTsXC1X
Where's blacken007 when you need him..hahahaha.
"The United States has an infinite amount of money" - Mayor Nanny Bloomberg
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the company chosen to distribute the checks, Rust Consulting, failed to fortify the account upon which the checks were written, Huntington National Bank in Ohio.
just a mistake,go find another one of your big stories :D :D :D :D
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the company chosen to distribute the checks, Rust Consulting, failed to fortify the account upon which the checks were written, Huntington National Bank in Ohio.
just a mistake,go find another one of your big stories :D :D :D :D
yeah just a bump in the road until the govt takes over health care with such expertise and competence.
FORWARD!!!!!
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the company chosen to distribute the checks, Rust Consulting, failed to fortify the account upon which the checks were written, Huntington National Bank in Ohio.
just a mistake,go find another one of your big stories :D :D :D :D
"Just a mistake" And WE get to take care of all the bounced check fees incurred by this "mistake".
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what bounced check fees
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what bounced check fees
Yeah - another O-BLUNDER
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could have been worse...foodstamp checks bouncing would have killed 50 million.
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what bounced check fees
In most banks if the other party bounces a check, you Eat the bounced check charges until YOU collect from the other party. The money that wasn't covered plus the bounced check charge.
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could have been worse...foodstamp checks bouncing would have killed 50 million.
QFT!