Mortgage Lenders to Reimburse Homeowners for Improper Foreclosure
ATLANTA (WAOK) On Wednesday the Federal Government ordered 16 of the nations largest home mortgage lenders to reimburse homeowners who were improperly foreclosed upon. The government also ordered the lenders to hire auditors to determine how many homeowners could have avoided foreclosure. Bank Of America, Citi-Group and Wells Fargo are just a few mortgage lenders that are responsible for the documentation error. Under the agreement reached, lenders have 45 days to hire an auditor to look thoroughly through the questionable documentation.
Read more about the agreement here