Jan 8th 2013 8:30AM
Hundreds of thousands of Americans stand to benefit from the latest mortgage-abuse settlement, but consumer advocates say U.S. banks may be getting the best of the deal. Banks have agreed to pay $8.5 billion to settle charges that they wrongfully foreclosed on millions of homeowners in the wake of the 2008 financial... Continue Reading »
U.S. banks have taken another step to clear away the wreckage of the 2008 financial crisis by agreeing to pay $8.5 billion to settle charges that they wrongfully foreclosed on millions of homeowners. The deal announced Monday could compensate hundreds of thousands of Americans whose homes were seized because of abuses... Continue Reading »
Jan 24th 2012 10:20AM
WASHINGTON -- The nation's five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices drove homeowners out of their homes, government officials said Monday. A draft settlement between the banks and U.S. states has been sent to state officials for review. Those who lost... Continue Reading »
Jan 12th 2012 12:10AM
After a year marred by red tape and mortgage lender malfeasance, foreclosure activity in 2011 fell to the lowest annual rate since the housing crisis began more than four years ago, according to data released Thursday. Foreclosure filings -- which include default notices, scheduled auctions and bank repossessions -- were... Continue Reading »
Sep 20th 2011 1:57PM
Banks being sued for illegal foreclosure practices are preparing to launch a toll-free number meant to enable them to contact the practices' victims, The Wall Street Journal reports. The effort by the banks is a response to pressure from regulators who have ordered 14 lenders to revamp their foreclosure practices after... Continue Reading »
