Currently Browsing: Attorney General Investigation

Chase overcharged and improperly foreclosed on veterans!

Chase overcharged and improperly foreclosed on veterans!
NBC was the first to report last week that JP Morgan Chase publicly acknowledged overcharging 4,000 military families for their mortgages. With that admission JP Morgan Chase CO also acknowledged improperly forclosing on some of the homes. The report came to light from a court case filed by Marine Captain Jonathan Rowles. In a statement to NBC News Chase chief communications officer Kristin Lemkau had this to say: “We are deeply appreciative of those who fight to protect our country and Chase funds a number of programs that provide benefits to military personnel and veterans, and while any...
read more

Foreclosure Crisis Settlement Taking Shape

Foreclosure Crisis Settlement Taking Shape
Compensation Fund Being Considered as Part of Settlement A spokesman for Iowa Attoreny General Tom Miller, who is spearheading the 50 state investigation into mortgage lender foreclosure practices, indicated a general compensation fund will be considered as part of any possible settlement. Geoff Greenwood, Miller’s spokesman, made the following clear in an interview: “That [a settlement] is one of the many options being considered. There are no details that have been hashed out. Any characterization of it as a done deal is just inaccurate.” The fund would serve to compensate borrowers,...
read more

3 Big Banks Working on Settlement

3 Big Banks Working on Settlement
End of Dual Tracking Near? Fresh from the Senate Banking Committee’s hearings on the foreclosure crisis, Bank of America, JP Morgan Chase, and Wells Fargo appear to be closer to a settlement which would compensate borrowers whose homes were improperly foreclosed upon. The banks would also agree to end the process of dual tracking. Dual tracking is continuing the foreclosure process despite working with the borrower on a modification. Many borrowers have complained of being foreclosed on despite having a modification in place or currently working with their lender for a modification. If you are...
read more