The Office of the Comptroller of the Currency yesterday released details on how much money banks will shell out to homeowners whose homes were either wrongfully foreclosed upon or who suffered other financial harm at banks’ hands, Salon reported. The results — as little as $300 for some who lost homes.
Those who had loan modifications approved by banks but still had their houses foreclosed on will receive back $300, while 679 homeowners who were foreclosed upon even though they were never in default will receive $5,000.
This prompted Occupy Wall Street activist Alexis Goldstein to start a tumblr, called “What You Can Buy For Having Your House Stolen,” which lists items — all under $300 — with which wronged homeowners can now comfort themselves. Notably, none are a home or, for that matter, a safe dwelling of any sort.
“You can buy TEN PITCHFORKS,” Goldstein writes. “Sure, you were wrongfully foreclosed on by a bank whose loan modification dept can’t communicate with its foreclosure dept…. But come on! With your OCC settlement of $300, you can buy like 2.3 months of storage in DC!” [Salon] —Zachary Kussin