Remember that big multibillion-dollar settlement big banks brokered with regulators to help out struggling homeowners?
Bloomberg reports the banks are effectively using the money to get homeowners out of their homes, not to stay in their homes. From Bloomberg:
“The banks have shown a knack for sidestepping government attempts to have them redress their role in the foreclosure crisis and keep people in their homes,” said Arthur Wilmarth, a law professor at George Washington University in the nation’s capital. “A lot of these efforts end up helping the banks, not the homeowners.”
And, OK, the accompanying “Swindler” poster may be a little too strong. But it’s pretty amazing how brazen these banks can be.
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Updated: January 2018