Wednesday, October 13, 2010

States set to unveil joint probe into foreclosures

This process is speeding up.

The top law enforcement officials of states around the country are already weighing the outlines of a potential settlement with the industry, said Iowa Attorney General Tom Miller, who will lead the investigation. The inquiry will be announced Wednesday morning.
Miller said one idea being discussed is to create an independent monitor to review whether banks have fixed their problems
"We want the companies to put in a system such that this will not happen again," Miller said in an interview with The Associated Press. "We want to explore what other remedies might be available, in a way that makes homeowners and the general housing economy better off."
These services promised the easy of foreclosure without really testing the legal impact of their shortcuts in legal processing.
Attorneys general have taken the lead in responding to a nationwide scandal that's called into question the accuracy and legitimacy of documents used to force millions of people from their homes
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