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The recent settlement of the robosigning case brought against a number of major U.S. banks by attorneys general of the states will most likely result in increased levels of foreclosure seizures. The involved banks have greatly slowed their foreclosure process during the negotiations, allowing some homeowners in default to remain in their properties without paying for months or even years. Now that the case has been settled with what amounts to a slap on the wrist for the banks for engaging in practices which resulted in allegations of fraudulent paperwork, the banks are likely to move quickly to help their bottom … (4 comments)
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