New York – Attorney General Andrew Cuomo asked several major lenders Tuesday for more information on the latest allegations of false statements accompanying foreclosure proceedings.
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Cuomo, who is also a Democratic gubernatorial candidate, is joining a slew of attorneys general nationwide, who have in the last two weeks launched investigations or called on the banks to halt foreclosures in their states.
The banks’ action follows growing evidence that mortgage lenders have been using flawed court papers and “robo-signers,” or people who sign hundreds of documents without verifying the facts, to evict homeowners.
Cuomo said he wants more information from Bank of America Corp., JPMorgan Chase & Co., Wells Fargo & Co. and GMAC Mortgage.
BofA has already halted foreclosures in all 50 states, while JPMorgan Chase, GMAC and PNC Financial have stopped foreclosures in 23 states. Wells Fargo hasn’t suspended any foreclosures so far.
If they can not afford to pay their mortgages, then they should be foreclosed upon. These people were fools to buy what they couldn’t afford. After working as a Mtg Broker for many years, we never put someone in a house they didn’t qulify forn nor could they afford.
When they had pipe dreams, and couldn’t confirm their funds to purchase, they didn’t qualify for a loan. Those that tried and went to shady dealers, got what they wanted. FORECLOURSE!!!!!!!!!
It should be the craziest thing to vote for a candidate who seeks to hurt even more the real estate business in such hard times!