I’m 100% certain this is happening in your town across America.
HuffPO-
The five big banks that agreed in a $25 billion mortgage settlement to reform foreclosure practices have continued to “dual-track” homeowners, an abusive technique that pushes families out of homes they thought their bank was trying to help them save, according to a new report by a monitor overseeing the settlement in California.
The report, by Katherine Porter, a University of California-Davis law professor, is the first official look at the progress the banks have made in complying with the terms of the deal, reached in March after federal and state investigations. Bank of America, JPMorgan Chase, Citigroup, Wells Fargo and Ally Financial have until Wednesday to implement hundreds of “servicing” reforms mandated by the settlement, or face penalties of up to $1 million per occurrence. HuffPost recently reported that the settlement has yet to spur discernible change in bank behavior.
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