I was very pleased today when I came across the following quote from Georgia Superior Court Judge Dennis Blackmon.
'Clearly, U.S. Bank cannot take the money, contract with our government to provide a service to the taxpayer, violate that agreement, and then say no one on earth can sue them for it.'*
U.S. Bank motioned to have a lawsuit filed by a mortgage holder, facing foreclosure, dismissed. The bank had received billions of dollars from the United States Government to modify loans for homeowners struggling with their payments. When the bank refused to put in writing the reasons for denying the loan modification, the mortgage holder sued.
I am sure there is more to the story and I am wondering if U.S. Bank will appeal to the U.S. Supreme Court and if this case will then be heard by the Supreme Court Justices. My curiosity will, no doubt, having me doing a search on the Internet to see what else I can find out. However, I thought this might be of interests to others so decided to share this much.
This might be very good news for struggling homeowners as the new year begins.
*One of my favorite publications is Consumer Reports and it is where I found mention of this suit. It appears in the February 2012 issue.
ADDITIONAL INFORMATION: If you have an interest in learning more about this case you might be interested in reading this article from the Times-Georgian.