In her findings, homeowners may be losing their homes because of little oversight over the foreclosure process. This only goes to show that many lenders and loan servicers are capitalizing and profiting off of foreclosures
According to Ms. Porter,
Regulators need to look beyond their current, myopic focus on loan origination and consider how servicers’ calculation and collection practices leave families vulnerable to foreclosure.
This is a finding that needs further discussion because it is really shameful to blame honest borrowers for defaulting on a loan when they simply may be another notch in the profit belt of unscrupulous lenders, servicers or whoever they claim to be. There is alot more on this sordid story click here. Remember to read each paper and notice closely in the foreclosure process. We will get more on this, so stay on lock.
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