Sat May 25 11:24:59 EDT 2024
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And The Banks Pay On

The New York Times is reporting that fourteen large banks appear ready to cough up another TEN BILLION dollars to end allegations of foreclosure abuse.  In a nutshell, the federal investigations purportedly involve faulty paperwork and excessive fees --- Go figure!

This settlement, though, is different from the $25 Billion one between all but one of the states' attorneys general and federal agencies earlier this year.  $3.75 Billion will compensate those out on the bricks and $2.25 Billion will go to other distressed borrowers so that they are able to stay in their own homes.

Mortgage . . .

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Paul Williams
Paul Williams
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