User Comment by Joe on Mortgage Lending Fraud







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Joe's Comment on
Mortgage Lending Fraud

Re: Congressional Hearings On Mortgage Lender Abuse

User Comment

Main thread--Mortgage Lending Fraud

From: Joe
State: Missouri
Posted: 05/07/2008
Subject: Congressional Hearings On Mortgage Lender Abuse
Comment:
"Mortgage lenders abusing court system", that's the title of article today in USAToday. A series of articles by Gretchen Morgenson of The New York Times helped to prompted Congressional interest in the problem. Link. Here is the leadin to the article:
Mortgage lenders are abusing the bankruptcy court system by pursuing unjustified foreclosures against struggling homeowners, piling on questionable fees and misstating the amounts owed, witnesses alleged at a congressional hearing on Tuesday.

The result is a systemic breakdown that increases foreclosures, raises the number of families losing their homes and threatens the integrity of the legal system, the witnesses told the Senate Subcommittee on Administrative Oversight and the Courts.
Here is an article about abuse of escrow accounts by mortgage lenders.
Mortgage lenders are abusing the bankruptcy court system by pursuing unjustified foreclosures against struggling homeowners, piling on questionable fees and misstating the amounts owed, witnesses alleged at a congressional hearing on Tuesday.

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