March 1, 2012 by: Matthew Malamud The $25 billion settlement recently reached between 49 state attorneys general and five mortgage servicers that is intended to help current and former homeowners affected by the foreclosure crisis does not release banks and their...
When a mortgage company starts foreclosure proceedings when it has no legal right to so, or when it fails to comply with the legal requirements for foreclosing, such as providing proper notice to the borrower, it has committed wrongful foreclosure. When this happens,...
Today, numerous mortgage companies such as Bank of America, Wells Fargo, Citi or Chase often make mistakes. It is not unusual for mortgage companies to lose payments or fail to properly apply payments, or for some other reason falsely accuse the borrower of defaulting...
Plaintiffs, William and Loretta Squires, brought this action against defendant, BAC Home Loans Servicing, LP, alleging a single violation of the Truth-in-Lending Act, 15 U.S.C. §§ 1601 et seq. (“TILA”). Plaintiffs executed a real estate mortgage with Countrywide Home...
By Jenifer B. McKim, Globe Staff October 17, 2011| Property owners in Massachusetts and across the United States say they are being threatened with foreclosure and assessed unfair fees by lenders even after signing agreements with those companies to make lower...