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Five Banks Settle With Government Over Foreclosure Process

Posted in February 20th, 2012
Published in blogging

After years of complaints about and mounting evidence proving that banks acted negligently and fraudulently in pursuing foreclosure processes around the nation, five banks have been forced into a settlement with the government. The settlement, amounting to $25 billion, is a small percentage of the vast sums that the banks made during the housing bubble. But for some consumers, maybe something will be better than nothing, although this lets the banks off with an almost-unnoticeable slap on the wrist. Check out this sound stage rental Chicago site for more information on saving money on professional services. The five banks involved in the settlement, Bank of America, Chase, Wells Fargo, Citigroup, and Ally, have trillions of dollars in assets, of which $25 billion is just a rounding error. However, if you have been taken advantage of during the foreclosure process, states will be receiving hundreds of millions of dollars in order to pay off consumers. Every former homeowner or homeowner who has beaten foreclosure should check out their state’s allocation of funds. Foreclosure giving you a headache? Or a back ache? Remember taking care of your health is more important that dealing with a home anyway, so visit this chiropractic Oklahoma City site for more health information. The process could take six to nine months for banks to work through, but it is possible that some consumers may get a little payback at the end of the year for having their homes taken from them in inproper foreclosure procedures.

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