Tag Archives: foreclosure settlement
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Who is to blame for the foreclosure crisis? The question comes down to did homeowners overreach and go beyond what they could afford or did banks prey on naive consumers? In reality, no one party is to blame, but rather a combination of lenders, homebuyers and regulators. Nonetheless, lenders have pointed fingers at home buyers,… Read More »
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In an earlier blog, we noted that in February, 2012, an historic National Mortgage Settlement (NMS) was announced with five of the largest mortgage servicers: Bank of America JPMorgan Chase Wells Fargo Citimortgage Ally/Gmac (Ally) The settlement addressed charges that these five creditors had “robo-signed” foreclosure affidavits and “back-dated” foreclosure documents in order to speed up foreclosures… Read More »
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An on-going story regarding foreclosures in Georgia and nationwide is that certain lenders have been found to have taken short cuts using unverified documents and flawed procedures in rushing to foreclosures. As a result, phrases such as robo-signing and “back-dated documents” have become part of the vocabulary in the media and in court decisions. When… Read More »