One More Reason To Hate The Mortgage Fraud Settlement

Okay, make that 13 reasons we should hate the mortgage fraud settlement...

Okay, make that 13 reasons we should hate the mortgage fraud settlement. Get ready to ride the wave.

Bloomberg News:

The $25 billion settlement with banks over foreclosure abuses may result in a wave of home seizures, inflicting short-term pain on delinquent U.S. borrowers while making a long-term housing recovery more likely.

Lenders slowed the pace of foreclosures as they negotiated with attorneys general in all 50 states for more than a year over allegations of faulty and fraudulent paperwork used to repossess homes. With yesterday’s agreement, banks are likely to resume property seizures

I don't suppose anyone thought to negotiate life preservers in the deal?

About Diane Sweet

Diane Sweet's picture
Senior Editor, Lives in a gerrymandered district in Michigan.

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