Yada, Maybe you should reread the story. This has nothing to do with Walker or the state budget! Its about Bammer spending more money we dont have to bail out people who cant be responsable for their own bad decisions.

I will tell you what is wrong with the picture - it is SCOTT WALKER who has just announced that he will use most of the money to balance the state budget. The same state budget he told us that was balanced. All of this money should go to the communities and the people that it was intended for and NOT for the Scott Walker budget. The same one that he said was balanced, but never was. This is not what the money was intended for and another reason to recall Walker.

I have a daughter who is a teacher in another state. She is young. She bought her home in 2008 for, at that time, a good price.The apparaisal is now much less. She tried to refinance her home at a lower rate and was told because she had been making her payments on time would not qualify for ANY program. They suggested she default, then she would qualify.She couldn't so it so she's out of the money??? What, tell me, is wrong with this picture?

mteg, you get the comfort of knowing you are not dependant on the government for assistance. It's bad enough we as taxpayers have to take it in the shoot to fund others cause they are too damn lazy to do for themselves. I know I can sleep soundly at night knowing I pay my bills when due.

Funny thing is, the banks get what is essentially, a $2,000 fine for forgery involving improper foreclosures. That's less than my closing costs.

It will never happen ! The money will go to Obama's campaign ! It's all a hoax. AS USUAL !!!!

critical, this has nothing to do with helping those in need.This is just another redistribution of money to people who should not have signed up for a mortgage in the first place. You need a 20% down payment and enough income to sevice the debt in order to REALLY qualify for a home. Clinton and Bush relaxed qualifications and forced banks to lend to certain people who were poor risks and should not have owned homes in the first place. Thank you Barney Frank and Chris Dodd.

This is like a class action lawsuit. The people hurt will get nothing.

Wow, helping people who need help. Republicans take note. You might think we should turn down this money, but we should help as many folks keep a home as possible.

Nationwide this will help less than 1 million people. However there are 14 million that are in trouble and facing foreclosure.
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Also with a settlement this big don't look for the money to be paid out anytime soon - 3 years is what I heard on teh radio today.

I love how people who get suckered into bad loans and don't read the fine print on a mortgage loan always get bailed out. The people that pay their mortgage payments on time and are never late don't get a darn thing.

mteg,

You'll likely get nothing. However, no one is stopping you from refi-ing today-mortgage rates are near 30 year lows; take your business to a lender not named in the law suit....

How about those of us that are homeowners that worked hard, had good credit, saved for a downpayment, and have maintained good credit with our banks? What do we get??? Not much different than somebody getting a brand new porsche for $200 a month and driving around for a year and half, then when the price quadruples, bail out becuase they can't afford. Are we included in this (can I refinance for a lower rate, or get some credit) or is this only for those that were supposedly duped into buying into the interest only baloon loans?

I hope the refi offers are better than the one I got a few months ago from Chase. That one was pretty mediocre and complicated by the fact that my second was with my credit union.

I wonder if I can use my "winnings" to pay for refincancing the whole thing to my credit union.

Can someone repost this story in English instead of lawyer speak.
Who is going to be able to get those "benefits"
Former customers of those banks?
Anyone needing help due to foreclosure?