Bank of America agrees to halt 2,000 foreclosures in the Phoenix area: "Last month, BofA agreed to modify loans for struggling borrowers if attorneys general from Arizona, Texas, Ohio, Iowa and Washington halted legal action against Countrywide. That action is based on the lender's 'alleged use of deceptive practices' in its mortgage-lending business, according to Goddard. The deal requires BofA to place a temporary hold on foreclosures on loans made up until the end of 2007 and work with buyers to make their mortgage payments more affordable so they have the option of staying in their homes."
----------------------------
I'm sure these 2000 owners (and the 11,000 coming later) didn't do anything wrong, like give false information on their mortgage applications about their income, or buy way beyond their means, or anything like that.
No comments:
Post a Comment