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Bank Foreclosure Scandal

Adding another layer to the phony account scandal, Several hundred protesters marked the bank’s 160th year with a satirical birthday and protesting the bank’s foreclosure practices. (photo.

 · The bank allegedly used these tactics to shepherd homeowners into foreclosure, as well as in-house loan modifications. Both yielded the bank more profits than the government-sponsored Home Affordable Modification Program, according to documents recently filed as part of a lawsuit in Massachusetts federal court.

Homeowners fight back against foreclosure, saying that the lender or servicer has no legal authority to foreclose on their home.. .4 million in foreclosure fraud suit against Wells Fargo.

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The 2010 United States foreclosure crisis, sometimes referred to as Foreclosure-gate or Foreclosuregate, refers to a widespread epidemic of improper foreclosures initiated by large banks and other lenders. The foreclosure crisis was extensively covered by news outlets beginning in October 2010, and several large banks, including Bank of America, JP Morgan, Wells Fargo, and Citigroup.

 · Bank of America pays $430M in settlement for misusing customers’ cash. Bank of America will pay $415 million to settle charges that its Merrill Lynch unit misused customer cash to finance its own.

HEMMER: More foreclosures, now why would that be? BOLLING: Well, here, let’s look at it this way. There is $25 billion that the government has told the banks, Ally Banks, Citi Bank, some of the. A.

In addition to fixing the bank’s errors, remedies include cash payments. how homeowners will be compensated for so-called robo-signing, the scandal that provoked the foreclosure review to begin.

Chris Hayes details the story of a man who died in court trying to get his home back, after the bank foreclosed on him, after a subcontractor erroneously said he owed back property taxes. The.

The 2010 United States foreclosure crisis, sometimes referred to as Foreclosure- gate or Foreclosuregate, refers to a widespread epidemic of improper foreclosures initiated by large banks and other lenders.

A bank filed foreclosure papers against the owner in 2008. A big part of the reason cases drag on for an average of two years is that last year’s robo-signing scandal forced banks to put the brakes.

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