Friday, June 3, 2011

Even After Mortgage Modification, Shoddy Bank Practices Hurt Homeowners

The banking and mortgage servicing industry continue to fleece homeowners even after some have won modifications to avoid foreclosures. The deliberate stonewalling and falsification of records on behalf of bankers puts the common citizen in the position of having to prove that the bank has made a mistake and attain legal representation. It's an exploitive strategy on the part of the recently bailed out banks, a numbers game that reckons most people will not be able to fight inappropriate charges and foreclosure efforts by bankers. It's a fundamentally amoral way to do business and the banks persist in ripping off Americans on a regular basis. I will post a follow-up article on the resources being amassed and used against the nomination of Elizabeth Warren to head the CFPB, a consumer watchdog bureau that might effective curtail much of this abuse.
http://www.propublica.org/article/even-after-mortgage-modification-shoddy-bank-practices-continue-to-hurt-hom

No comments:

Post a Comment