Overheard in Des Moines

Here are a few things I heard while working on the foreclosure issue in Des Moines this week.

Gina Gates of San Jose, CA, said that her banker said she could get her home out of the foreclosure process if she would give them another $40,000.  When she asked for the agreement in writing, they said, "We don't put anything in writing."  Then they withdrew the agreement on the spot.

Peggy Mears of Los Angeles said, "When Bernie Madoff stole from rich people, he got 150 years on prison.  When bankers steal the homes of working people, they get millions of dollars in bonuses."

Ken Kelley of Antioch, CA, said, "If homeowners make a mistake on their mortgages, we lose everything.  But if banks make a mistake on our mortgages, we still lose everything."

Attorney General Tom Miller of Iowa responded to a question about criminal prosecution of fraud and other crimes in mortgage foreclosures, "We will put people in jail."