Govt To Announce a $26 Billion Foreclosure Abuse Deal - Wall Street Examiner Forums and Bears Chat

Wall Street Examiner Forums and Bears Chat: Govt To Announce a $26 Billion Foreclosure Abuse Deal - Wall Street Examiner Forums and Bears Chat

Help

Page 1 of 1

You cannot start a new topic
You cannot reply to this topic

Govt To Announce a $26 Billion Foreclosure Abuse Deal 5 Biggest Banks To Pay for Settlement Rate Topic:

#1 WorkingPoor

Grizzly Bear

Group: Members
Posts: 3,048
Joined: 28-April 10
Gender:Male
Location:Mexico
Interests:I'm a Canadian living the simple life in Mexico. Instead of Sleepless in Seattle, I am Stuffless in Mexico. Oh, and I have been posting on bearish forums since 2000. I have been here before as CivilBear and PoorSoul.

Posted 09 February 2012 - 09:19 AM

Government officials are set today to announce a record $26 billion settlement with the five biggest banks related to foreclosure abuses including "robo-signing" of documents.

The Department of Justice will hold a press conference at 10 a.m. to announce an agreement in principal. At least 42 states have agreed to sign onto the agreement. New York and California were among the last holdouts and it wasn't clear whether they will join or sue separately.

For the past year, President Obama has advocated for a mortgage relief plan with the five biggest mortgage servicers, Bank of America, JPMorgan Chase, Wells Fargo and Ally Financial, to settle an investigation of foreclosure abuses. Evidence of robo-signing foreclosure documents began to show in 2010 during a record national wave of foreclosed homes.

http://news.yahoo.co...--abc-news.html

#2 WorkingPoor

Grizzly Bear

Group: Members
Posts: 3,048
Joined: 28-April 10
Gender:Male
Location:Mexico
Interests:I'm a Canadian living the simple life in Mexico. Instead of Sleepless in Seattle, I am Stuffless in Mexico. Oh, and I have been posting on bearish forums since 2000. I have been here before as CivilBear and PoorSoul.