- WellsFargo, and any mortgage companies who used 80/20 loans
- United States of America
The government bailed out many business places against the will of the people. We as Americans have been abused by congress as they go against the voices of Americans, congress has caused a great part of this recession and why should we allow these people to take our future and monies from our children especially when the congress has decided to give banks the run and say to create mortgages for the lower income people to have homes , but also have the fed banks write loans like 80/20 loans with no money down yet the loans were either compromised to go either way especially when a family wanted a thirty year fix rate they would get one but the trick was either on the regular primary note or the junior loan which was set at a high rate locked in for 30 years at 13%.
Then told with two mortgages once you were signed into it later you wouldn`t be able to refinance because you have one loan even though you have two mortgages, then they gave you a two year arm at 7.0250% nthen after two years up it went. They used language to make you feel as though you had a good mortgage fix for thirty years, but no where to be found on the primary note. The language was the killer and people trusted the lender and they took millions for the money,and now the bail out money is buying the mortgages back.
The banks are using bail out money to buy back mortgages yet a bill was passed for mortgages to be re modified and it all back fired as the banks bought the mortgages before you could react or take action, these banks are corrupt and they need new laws written to help and protect the home buyer by giving them 90-120 days to react and defend their homes and working out a process regardless if their credit fell from the original qualification score required. If you have a home your credit once was good so should you still be qualified for a extra chance to be bailed out like all the big banks and car companies who always claim poor mouth.
The Give borrowers a chance to refinance petition to WellsFargo, and any mortgage companies who used 80/20 loans was written by William Gipson and is in the category Justice at GoPetition.