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Erik and Renee Sundquist have won their eight year long battle with Bank of America illegally foreclosing on their home, reaching a $6M settlement. Oppenheim Law shares more here.
The bank apologized and has set aside $8 million to compensate. and then fired 5,300 people over the scandal, including the ouster of its.
However, the recent foreclosure scandal does not just affect those who are facing foreclosure or are in the process of purchasing a recently foreclosed home; but it also greatly affects those who work within the real estate industry.
Wells Fargo Faces Scandal for Illegal Foreclosing on 400 Homes. In a quarterly report filed Friday, Wells Fargo disclosed that it illegally foreclosed on 400 families after denying modifications to qualifying homeowners.. Wells Fargo conducted an internal review which found 625 customers were denied modifications despite qualifying for relief – and that 400 of these homeowners lost their.
During the three months that ended December 31, homes that were either bank-owned or going through the. referring to the delays cause by the robo-signing scandal that broke in late 2010. "Even so,
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.
A lawsuit against JP Morgan-Chase — the nation’s largest bank — asserts that the institution paid off the $4,200,000,000 in mortgage forgiveness that it agreed to as a settlement for widescale.
bank repossessions were down roughly 70%. In California, they were more than 50% lower. States that do require judicial review, however, are only now catching up to foreclosure filings that were put.
. broke down details of a $9.3 billion settlement with 13 banks over foreclosure abuses stemming from the so-called robo-signing scandal, a.
GMAC Halts All Foreclosures In 23 States On Heels Of Florida Judge Finding JPM Committed Court Fraud In Mortgage Misappropriation " Not a week has passed since, and we are already proven right. Today, Bloomberg discloses that GMAC Mortgage, a unit of the affectionately renamed ally bank, has halted all foreclosures in 23 states, including Florida, Connecticut and New York.
Note: Employees and family members residing with employees of Wells Fargo Bank, N.A., its affiliates or subsidiaries or Wachovia Corporation, its affiliates and subsidiaries are strictly prohibited from directly or indirectly purchasing any property owned or managed by Premiere Asset Services.
In 2011, the “robo-signing” scandal, in which foreclosure documents were signed without properly. those begun by Deutsche Bank were up 47 percent from 2011. Those of Wells Fargo’s rose 68 percent.
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