Illegal Foreclosure Practices Questioned

With wrongful home foreclosures on the rise, there has been a lot of question as to whether home foreclosures have been handled properly.  Pittsburgh’s PNC Financial Services Group, Inc. met with Bill McCollum, Florida’s District Attorney, to discuss its foreclosure process.  McCollum had sent letters to various mortgage lenders in order to learn about their foreclosure processes.  PNC was just one of the companies he met with.

 

This is not what I signed up for!!!

Because of increased foreclosures, especially homes that were not supposed to be possessed in the first place, mortgage lenders have been scrutinized for their practices.  Many people feel as if the automated systems that are put in place to save time, have led to many unfair mistakes.  These mistakes have led to thousands of unfair home foreclosures.

 

PNC met to discuss its foreclosure process.  They also discussed ideas to help fix the current foreclosure crisis.  PNC believes that it is taking the proper measures when dealing with home foreclosures, however agreed to re-look at its procedures.  It can be noted that there is still much that needs to be fixed with the home foreclosure process.

What steps are being taken to fix this crisis?  Many mortgage companies, like PNC, are taking a look at how they handle foreclosures, and are changing the ways they handle foreclosures.  This includes how they verify loans in default and mortgage modification.  Although this will take time, there is hope that mortgage lenders will find their errors and correct them.

The government is also trying to fix the foreclosure crisis.  President Barack Obama will be utilizing $12 billion dollars of the federal budget, to help struggling homeowners.  Many people scrutinize his plan, because he originally promised to spend $50 billion to help families, and is not following through with his commitment.   The Government will continue its efforts to help American families save their homes, by allowing families to have more options for modifying their mortgages.

While these steps will help make an impact in the current situation, there is a lot of work to be done.  It is also important for American families to learn about home foreclosure and to stay educated on current loan modification programs.  It is important to fully understand the terms of your mortgage and any mortgage modifications that you plan to take.

If you find yourself in a situation where you are unable to make your mortgage payments, and may loose your home, it is important to seek help before the situation becomes worse.  This can include discussing all option with your lender, hiring a foreclosure defense attorney, and possibly seeking the advice of a bankruptcy attorney.  These resources will help you better understand your personal situation.

Foreclosure Defense Program offers home foreclosure news and information for families visit www.ForeclosureDefense.com for more information.  These resources will better educate struggling homeowners.  Learn the steps you need to take in order to keep your home and fight foreclosure.

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