6. "An unjust law is a code that a numerical or power majority group compels a minority group to obey but does not make binding on itself. This is difference made legal."Letter From a Birmingham Jail,
Recent court cases have revealed widespread lawbreaking on the part of United States banks -- a "power majority group" -- as they foreclosed on homes that in some cases they don't even own.
Members of both parties have indicated an eagerness to rescue banks from the consequences of their own disregard for state and local laws, which has led to numerous and egregious violations (like foreclosing on a home that is fully paid for). But the criminality goes further: In many cases, mortgages changed ownership without proper notification to the borrower. The new holder of the note often changed the rules -- about due dates for payment, late penalties and other contractually agreed-upon terms -- without informing the homeowner, then began imposing steep fees and penalties retroactively. (The banks own servicing companies that benefit from these fees.)
Many homeowners are now delinquent because of these wrongfully-imposed fees. Many of the solutions now being proposed would allow them to seize the homes anyway. The administration's HAMP program, ostensibly designed to help homeowners, has too often become an "extend and pretend" program that allows banks to take another year or two's worth of mortgage payments before seizing the home anyway.
That's why the Obama administration's cushy settlement deal -- which would immunize bankers from criminal prosecution, or even investigation -- must be stopped. (You can help by making your voice heard here.)
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