As I understand, one of the reasons for the civil lawsuits is that banks were giving loans to people saying they earned a certain amount but never verified the actual amount they made. Okay, so why does the government get all that lawsuit money amounting to billions of dollars. All the government would have to do is require all the banks to report the amount of the mortgages, then access the social security to find out how much that person made in the year the mortgage was taken out. If the person did not make enough to qualify for the loan, that person should be entitled to some of the lawsuit money. It is my guess that all second mortgages were falsified. The banks don’t help people refinance that have second mortgages, so if the suit money were available to them, they could get out from under their obligation. The problem with my case is that my second mortgage isn’t with one of the big banks. The little banks should still have to report the mortgage amount even though they aren’t being sued by the government. They absolutely said I earned much more that I actually did. Saying I earned $400,000 a year when I only made about $31,000 that year that I took out the loan. It’s just not fair that the real victims in the civil lawsuits gets nothing but the government walks away the winner and nobody goes to jail. I see a class action that probably no lawyer would touch.
Location: Spokane, Washington