Wall Street Blames Foreclosure Mess on Homeowners

Yes, they're blaming it on the people who were tricked and trapped into villainous loan schemes:

The building furor over whether the largest U.S. mortgage lenders used so-called robo-signers and incomplete paperwork to force delinquent borrowers from their homes has mushroomed into a probe by the attorneys general in all 50 states, with U.S. Congressional hearings not far behind. Those on Wall Street, however, are largely unsympathetic, insisting that possible errors in the foreclosure process are beside the point, that the process begins only when a borrower starts missing mortgage payments.

 They had the nerve to simply brush aside the "possible errors" in the way they handled the foreclosure process. Errors with finances are not a simple thing, they usually involve huge penalty and lawsuits, and sometimes prison terms. Furthermore, Wall Street blamed it on the homeowners for not being able to pay off impossible loans that the banks set up fully knowing that barely anyone would be able to pay them.

Even more aggravating is that the banks apparently didn't help their clients to avoid foreclosure:

Thousands of people reported that despite efforts to seek loan modifications or other relief many financial institutions "routinely fail to respond in a timely manner, misplace requested documents, and send mixed signals" about what is required to avoid foreclosures, the lawmakers said.

There's no words for this, it is truly a disgrace on the most massive of scales.