"Attorney General Eric Schneiderman of New York announced this week that he plans to sue Bank of America and Wells Fargo for failure to adhere to the terms of a $26 billion settlement that was supposed to provide relief to homeowners and end foreclosure abuses.From data that have been compiled so far, it appears that banks are directing much of the required relief toward large mortgages, presumably for higher-income borrowers. It also appears as though banks may be urging borrowers who owe more on their mortgages than their homes are worth to sell their homes at a loss via short sales when those borrowers could qualify for loan modifications instead. In addition, there is evidence that banks may be structuring the mortgage aid so that they get credit under the settlement for taking action, even when the relief is insufficient to prevent foreclosures." |
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I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)