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 In Bankruptcy, Blog, Foreclosure

In a testimony before Congress last week Walsh added that “these deficiencies have resulted in violations of state and local foreclosure laws, regulations, or rules and have had an adverse affect on the functioning of the mortgage markets and the U.S. economy as a whole.”

While he didn’t mention any servicers in particular Walsh was likely targeting big names like Wells Fargo, JP Morgan, Citibank and Bank of America. Penalties could include loan modifications, banks forgiving a portion of principal balances owed or massive fines paid to the government.

Facing foreclosure due to poor loan modification practices?  Contact the Malaise Law Firm to get help from a San Antonio bankruptcy attorney.