City Council Meeting Tonight.

Satellite-Beach-Paper-Fire-ROHTonight at 7:00 PM the City Council of Satellite Beach will once again hold a regular meeting.

The agenda for the meeting can be found here. The agenda packet can be found here.

A few items of interest are on the agenda. The Rec Department is looking to spend $17,500 on a new software package for managing recreation facilities. The purchase agreement also has an additional $3000 for yearly maintenance.

Wells Fargo (the bank) is seeking a reduction of liens against the property located at 532 Carriage Drive. We have to say that we are conflicted about this. Before the real estate / economy crash, many people took out loans for mortgages which ultimately they could not afford. We believe that there is some blame to be placed on the homeowners that let the property fall into disrepair.

However, in 2012, Wells Fargo and Bank of America were fined $25 billion dollars for illegal practices in their mortgages. Those practices included giving false statements on loans and loan costs. However the settlement also addressed the fact that the two banks had been “robo-signing” documents, and representing to courts that foreclosure documents had been delivered to home owners when in fact they hadn’t.

We believe in holding people accountable for what they sign (the home owners) as well as holding Bank of America and Wells Fargo accountable for lying to foreclosure courts. Signing a document without reading it is a human failing. Lying to courts is deception and we as a city should not support such actions.

This year 48 states including the State of Florida, have launched another suit against Wells Fargo for failing to live up to the terms of the 2012 settlement.

Potential violations of the settlement include bad communication with borrowers, insufficient information provided to Bondi’s office in response to complaints, and homeowners being denied permanent loan modifications based on “further underwriting of the application.”

We here at Raised on Hoecakes are not sure we should let Wells Fargo off the hook for the liens. If Wells Fargo came into this discussion with “clean hands,” we would be sympathetic to letting the liens go. However, Wells Fargo has been caught – repeatedly – with dirty dealings in mortgage dealings.

It is our opinion that before relieving the liens, Wells Fargo should show that the property in question was foreclosed in a consistent, legal manner and would not have qualified or been under the settlement for their illegal actions.

Agenda item #14 – the approval of an ordinance relying on a agreement the is not in place – is also on the agenda. We are very interested to see how this will play out.

Hope to see ya’ll there!

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