Attorneys general in dozens of states plan to launch a joint probe into charges that banks used bogus paperwork to evict borrowers from their homes.

The investigation will go after charges that lenders including GMAC, JPMorgan Chase (JPM) and Bank of America (BAC) forged documents and faked social security numbers in order to foreclose on homes, The New York Post said.

Bank of America has already announced a nationwide moratorium on foreclosures while investigates the allegations.

Lenders will foreclose on about 1.2 million homes this year as high unemployment and falling house prices leave borrowers struggling to make their mortgage payments.

The investigation could be announced as soon as Tuesday.







Increase your money and finance knowledge from home

Basics Of The Stock Market

Stock Market 101 - everything you need to know but were afraid to ask!

View Course »

Behavioral Finance

Why do investors make the decisions that they do?

View Course »

Add a Comment

*0 / 3000 Character Maximum

1 Comment

Filter by:
mickle.clark

Reverse mortgages are currently one of the best ways for seniors to get the equity out of their homes without having to move or worry about foreclosures.


http://www.reversemortgagelendersdirect.com/reverse-mortgage-loan/
http://www.reversemortgagelendersdirect.com/reverse-mortgage-rates/
http://www.reversemortgagelendersdirect.com/reverse-mortgage-calculator/
http://www.reversemortgagelendersdirect.com/reverse-mortgage-information/
http://www.reversemortgagelendersdirect.com/is-a-reverse-mortgage-a-good-idea/
http://www.reversemortgagelendersdirect.com/advantages-and-disadvantages-reverse-mortgage/

July 23 2013 at 2:12 PM Report abuse rate up rate down Reply