Reforms to the mortgage system on the horizon?
October 18th, 2010
From Kentucky.com:
A joint investigation by every state and the District of Columbia could force mortgage companies to settle allegations that they used flawed documents to foreclose on hundreds of thousands of homeowners.
It could take months, at least, for any settlement to be reached. But legal experts say lenders could be forced to accept an independent monitor to ensure they follow state foreclosure laws. The banks could also be subject to financial penalties and be forced to pay some people whose foreclosures were improperly handled.
Read more: http://www.kentucky.com/2010/10/13/1478462/states-probe-of-foreclosures-could.html#ixzz12OArvTFB
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