Judge Blasts Bad Bank, Erases 525G Debt

[peaceandlove]

Judge Spinner, You Rock!

Catherine and News & Commentary, November 30, 2009 at 10:11 am

By Kieran Crowley, Rich Wilner and Dan Mangan

A Long Island couple is home free after an outraged judge gave them an amazing Thanksgiving present — canceling their debt to ruthless bankers trying to toss them out on the street.

Suffolk Judge Jeffrey Spinner wiped out $525,000 in mortgage payments demanded by a California bank, blasting its “harsh, repugnant, shocking and repulsive” acts.

The bombshell decision leaves Diane Yano-Horoski and her husband, Greg Horoski, owing absolutely no money on their ranch house in East Patchogue.

Continue reading:

Judge Blasts Bad Bank, Erases 525G Debt

Excerpt:

The Horoskis, who had been paying only interest on their mortgage, had no equity in the home.

Horoski, who had begged the bankers to let him restructure the loan, said, "I think the judge felt it was almost a personal vendetta." Dealing with the bank, he said, was "like dealing with organized crime."

OneWest said, "We respectfully disagree with the lower court's unprecedented ruling and we expect that it will be overturned on appeal."

It claimed it "has been extremely active in working with consumers on home loan modifications through the Obama administration's Home Affordable Modification Program and other loan modification initiatives."

Read more: http://www.nypost.com/p/news/local/j...#ixzz0YOFJOFKL


SOURCE: http://solari.com/blog/?p=5220 Catherine Austin Fitts' blog