Victims of alleged fraud

Fraud is  the intentional use of deception, trickery,or perversion of truth for the purpose of inducing another to part with some valuable thing belonging to him or to give up a legal right.  Quite a lengthy explanation but there you have it.

Fraud or should I say alleged fraud, is on the doorsteps of Countrywide.  $335 million dollars is to be paid out to victims of fraud but there is a problem.  To track down the number of people that are victims of Countrywide's alleged fraudulent lending practices is a difficult task.  Why, because most of these people (minorities) are long gone after losing their homes to foreclosures.  

It is alleged that some minorities were pushed tricked into costly loans, and some were charged higher fees.  Countrywide, because of that debacle, (disaster) must pay out big bucks because of their discriminator practices against black and Hispanic borrowers, and this has been going on for a period of about four years.  Allegedly.

Stored money is stagnant money so the banks put your money to use and make most of their profit through loans.   How then can you tell if your bank is on the up and up?  A few basic precautions will help although it is difficult to find out and judge the soundness of a bank.  Only when the evidence has been discovered and given widespread attention can you really tell what is going on behind closed doors.  If you are being rushed to make a decision or if the terms appear to good to be true when in doubt, leave it out.  Shop around.

The Justice Department  is trying to determine how to pay these folks back in light of the fair-lending settlement with Countrywide, to the tune of $335 million, and is making ever effort to track the borrowers down.