Community | August 17, 2010 | 0 comments

Homeowner Questionnaire Shows Banks Violating Gov’t Program Rules - ProPublica

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Mortgage servicers regularly make errors and break the rules of the government's mortgage modification program, according to hundreds of homeowners who responded to a ProPublica questionnaire.

For example, all homeowners who are rejected are supposed to receive a formal denial from their mortgage servicer, according to the program's rules. But 136 homeowners reported that they had been rejected from the program without receiving a formal denial. Additionally, homeowners reported more than 1,000 instances of mortgage servicer errors, including losing documents and giving false information.
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    Community,   News and Politics,   Politics,   US Politics,   4 more
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    Economy Banks Foreclosure Mortgage Crisis 1 more
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