Litchfield County real estate information, local events and more.


What do BofA and Scrooge have in common?

Hud sues BofA for discrimination Apparently a whole lot. (No, it's not a knock knock joke, although sometimes the only thing you can do is laugh) I read an article today that cited a court case brought by HUD against BofA for discrimination against people with disabilities. And why would I liken that to Scrooge? Well, to pre-revelation Scrooge that is. Because Scrooge had no problem to treat anyone he encountered badly, especially those who had issues. Scrooge disliked the poor, and one can imagine he would have taken advantage of any one with a disability. It would seem that BofA is right on par with mean old Mr. Scrooge.

And just what did Bank of America do?

It has been alleged that 3 people who were on disability that applied for a mortgage were asked to provide BofA with personal medical information and proof that their Social Security payments would continue. That is a no-no, point blank, end of story.

John Trasviña, HUD Assistant Secretary for Fair Housing and Equal Opportunity issued a statement saying "Holding home buyers with disabilities to a higher standard just because they rely on disability payments as a source of income is against the law." He went on to say "Mortgage companies may verify income and have eligibility standards but they may not single out home buyers with disabilities to delay or deny financing when they are otherwise eligible."

Fair Housing is very, very clear on this point, there is no room for misunderstanding. It is illegal to discriminate because of a disability, they may not impose different criteria for a loan if people have a disability from those that don't. And certainly it is against the law to inquire about the nature of the disability itself.

I wonder if there are others out there who suffered the same treatment but didn't come forward. This should be interesting.

And then there is the news that Flagstar Bank agreed to pay $133 million to settle claims that they engaged in fraudulent lending practices.

Mortgage FraudOh, say it ain't so.... no, it couldn't be. The "F" word, I shuddered. Fraudulent lending practices? So they could make a profit?

Hmmm.... I can remember hearing people say "if they can fog a mirror, they can get a loan". So I am not surprised, not at all. I don't think any of us are surprised by any of this actually.

The government brought suit, claiming Flagstar Bank improperly approved residential home loans for government insurance. Flagstar has settled... to the tune of $133 million, only because that is the maximum amount they can pay.

 I liken the whole thing to the biggest scam perpetrated on the American Public.  I think many were scammed into the belief they too could own a home, be part of the big American Dream. And now their dreams have been flushed right down the toilet.

Let's hope these lenders get visited by three ghosts during the night and they wake up and really help repair the damage they caused. I don't know how they can do that, but they really should.

Andrea Swiedler, Realtor, Southern Litchfield County Real Estate

2017 President, Greater New Milford Board of Realtors

2017 Connecticut Magazine 5 Star Realtor


 Search homes for sale in Litchfield County, CT.


Coldwell Banker Residential Brokerage

Litchfield County Regional Office,375 Danbury Rd, New Milford, CT 06776


© Andrea Swiedler 2009 - 2017

 Always do right. This will gratify some people and astonish the rest. - Mark Twain

Comment balloon 6 commentsAndrea Swiedler • February 27 2012 01:29PM
What do BofA and Scrooge have in common?
Apparently a whole lot. (No, it's not a knock knock joke, although sometimes the only thing you can do is laugh) I read an article today that cited a court case brought by HUD against BofA for discrimination against people with disabilities. And… more
Life in Goshen CT, from Bison to Zebu and everything in between.
Goshen, Connecticut, from American Bison to Zebu and everything in between! Even elephant and camel rides!.. Who says country life is boring? Search Homes for Sale Goshen, CT When I think of Goshen, Connecticut I think of two things, The Goshen… more
Cornwall CT, A feast for the senses, come home to Cornwall CT!
Homes for sale in Cornwall, CT Cornwall, Connecticut. Most everyone who lives in the Litchfield Hills, or has taken the amazing drive up Route 7 through Litchfield County is familiar with the covered bridge in West Cornwall. It is certainly… more
Lake Waramaug, Litchfield County luxury country waterfront homes for…
Nestled in the beauty of the Litchfield Hills, Lake Waramaug spans the towns of Washington ( New Preston ), Warren and Kent, CT. Some of the most beautiful and prestigious homes in the area are gracefully set along the lakefront, it is truly one of… more
Buy a home on Candlewood Lake now, just in time for summer!
It is just about time to think about summer activities on Candlewood Lake, boating, swimming, fishing, sitting in the sun. If you start looking to buy your home on Candlewood Lake now, you can be in by the time all the real fun begins! .. more
How secure is your listing?
I have written a few posts about how I am an alarmaphobe. I don't like it when agents give me the codes to the alarm system, for many reasons. And I don't give out codes to my listings where there are alarm systems that are armed. I can… more
A Plethora of the Unwelcome
Inground oil tanks in Connecticut, anywhere for that matter. The technical term often confuses a buyer, UST's, underground storage tanks, but no matter what you are calling it, Jim is right. This sends chills up my spine and I don't breath right… more
Got ghosts? I'm not telling…
In Connecticut, when selling a home you do not have to disclose that you have.. people living with you that don't pay rent, people who walk through walls, move things on you, wailing in the middle of the night, shaking the bed… in other words,… more
Help for Connecticut victims of foreclosure abuse, fraud and…
The National Mortgage Settlement. Connecticut is slated to receive $190 million out of the $25 billion dollar joint federal state settlement agreement over foreclosure abuses, fraud and unacceptable mortgage servicing practices from the big 5. … more
Wow, a red tag sale on homes in New Milford, CT!
According to my most recent real estate sales statistics for New Milford, Connecticut, homes sold for less than 14% of list price! Sort of… That is 14% of the last listed price, not the original list price. Do you want to see what the original… more