Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Bringing Predators to Justice
As we all know by now, the current state of the economy was created by mortgage lenders who were giving out money to people who did not previously qualify. 
In the aftermath, many are now taking these banks to court for unfair and predatory practices.  Banks have been going through these lawsuits for years but recently the number has jumped.  Some have already settled out of court for millions of dollars.  Banks like Wells Fargo and Countrywide have been sued by homeowners in an effort to keep their homes. 
Some are seeking money for damages because they've already lost their house or paid off their mortgage.  Others are looking for a loan modification, they just want their mortgage to be affordable.     
Many have joined in on class action lawsuits because they do not agree with practices like high interest rates, misleading introductory rates and lack of income verification.  These practices are called predatory because these loans are pretty much unaffordable, and given to people who do not understand what they are signing.
An example of these unaffordable loans is the originated payment option adjustable-rate mortgage. This type of loan allows borrowers to make very low monthly payments, and the ... more

__________________________________________________
Are you on The Rain? Grow Your Network!