60 Minutes program on what the banks are doing to home owners. Please click on the picture to watch:
Holmes and Galt, LLC
STATE ATTORNEYS GENERAL, FEDS REACH $25 BILLION SETTLEMENT WITH FIVE LARGEST MORTGAGE SERVICERS ON FORECLOSURE WRONGS
(WASHINGTON, D.C.) The nation’s five largest mortgage servicers have agreed to a landmark $25 billion settlement with a coalition of state attorneys general and federal agencies. The settlement addresses past mortgage loan servicing and foreclosure abuses and fraud, provides substantial financial relief to borrowers harmed by bank fraud, and establishes significant new homeowner protections for the future.
This is the largest joint state-federal settlement in history and it is the result of a massive civil law enforcement investigation and initiative by state attorneys general, state banking regulators, and nearly a dozen federal agencies.
The joint state-federal group announced the agreement with the nation's five largest servicers: Bank of America Corporation, JPMorgan Chase & Co., Wells Fargo & Company, Citigroup, Inc., and Ally Financial, Inc. (formerly GMAC). Collectively, the five banks service nearly 60 percent of the nation’s mortgages.
Wells Fargo accused of fabricating foreclosure documents