Page 16 - Loan Modification News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Settlement. >> there's $4 million to $6 million potential foreclosures out there that have been bottled up while the settlement has been worked out. right? so now you got the banks who are going to -- they are going to be off to the races again in terms of pursuing these foreclosures. they have a settlement which is supposed to make them sort of more sensitive to loan modifications and so forth. when you talk to housing counselors who are on the ground, they will tell you that these big banks basically have the schizophrenia. there is one side to the house that's supposed to be working on the ...

Relief for homeowners. we know there are a lot of people for whom a refinance, a loan modification would make a big difference and stay in the home and frankly protect the cities and towns and the economy, so our suit alleges all of those things you just talked about, and i think it's particularly ironic for ally given that they are taxpayer run, they reached agreements when they were bailed out under t.a.r.p., and all we're saying is they really should be following the law here in massachusetts. >> there is an interesting dynamic at work that factors into both money and politics and the polit...

>> turns out these banks, which demand borrowers have all of their paperwork just right, these same banks have fouled up their own paperwork to a historic degree. >> the family of six that lives in this home thought they were getting a loan modification. then through a realtor and friend they found out that their home was already in foreclosure and sold. >> so why should any american citizen be kicked out of their homes in this cold weather in ohio? it's going to be 10, 20 below zero. don't leave your home. because you know what? when those companies say they have your mortgage, unless you hav...

>> the family of six that lives in this home thought they were getting a loan modification. then through a realtor and friend they found out that their home was already in foreclosure and sold. >> so why should any american citizen be kicked out of their homes in this cold weather in ohio? it's going to be 10, 20 below zero. don't leave your home. because you know what? when those companies say they have your mortgage, unless you have a lawyer that can put his finger or her finger on that mortgage you don't have that mortgage. and you're going to find they can't find the paper up there on wall...

Their paperwork just right, these same banks have fouled up their own paperwork to a historic degree. >> the family of six that lives in this home thought they were getting a loan modification. then through a realtor and friend they found out that their home was already in foreclosure and sold. >> so why should any american citizen be kicked out of their homes in this cold weather in ohio? it's going to be 10, 20 below zero. don't leave your home. because you know what? when those companies say they have your mortgage, unless you have a lawyer that can put his finger or her finger on that mort...