I have located a law firm who would like to consider filing a class action lawsuit against lenders, mortgage servicers, ratings agencies and Realtors on behalf of American Homeowners. All these players (AKA salesman) were participants in the scheme of what was sold as the "American Dream" for the
sole purpose of profits and commissions for their CEO's. shareholders, members and employees.
We now know these mortgages and the homes you live are considered toxic assets by them, our governmnet and around the world. Are you just to suffer from the fumes and die away?
The only difference between you and them is that they received a trillion dollar bailout for selling you toxic $hit and you are left to sufferbecause you bought the toxic $hit. This seems a$$ backwards, don't you think? Pardon my French, but I am of French decent
This lawsuit is to get your share of the some of those trillion$ dolled out to failed CEO's, exectutives and zombie banks at your expense. Personally, I feel it is really a no brainer class action lawsuit and I think that this law firm and you all will make the Banks taste their own medicine.
This may go down in history as the most MEANINGFUL and biggest class action EVER!
The goal would be to become one of the largest class actions ever based on homeowners being sold what is essentially snake oil. AKA, mortgages and real estate. Defective products such as mortgages and real estate that were sold using deceptive manners that often involved bait and switch techniques.
This is not rocket science. If you feel that this was a scam and you are deceived some how, then you may belong in this class.
The law firm is looking to get a minimum of 1,000,000 homeowners and sue all agencies involved in the housing crisis. I was told that it could be in the $500 billion range.
This thread is just to see who would be interested.
- Will it cost money to get involved? Yes, the lawyers will discuss fees, retainers etc in a private phone call with those interested in joining. They will join this thread and give details later.
- OK, but I need to know because I don't have money? Again, the lawyers will go over this, You are not signing anything by chiming in here and this is just for preliminary interest. However, those that may join may be able to avoid mortgage payments and foreclosure until this case is heard or settled. The law firm said they will ask the courts for relief from paying on the defective mortgages and stop and and all foreclosure proceedings.
- What is the goal of the class? For the lenders to mark these mortgages and real estate to current market value. AKA interest rate deductions, principle reductions etc.
Moe Bedard & LoanSafe.org Disclaimer:
OK, that is it. I am not going to have many answers for you all on the details because I am not a lawyer and I do not work for the law firm in any capacity. My involvement would be this website where they market to homeowners to join the class action and they would pay LoanSafe.org a monthly fee for the advertising of their law firm. Also, I may be called as an expert if needed be.