Last week, Bank of America, Wells Fargo, JPMorgan Chase along w 7 other lenders agreed to settle by paying $8.5 billion. Of that 3.3 billion is suppose to go to eligible borrowers whose foreclosures were mishandled. This settlement is suppose to resolve claims of foreclosure abuses and people forced out of thier homes for MISTAKES!The OCC andFed Reserve announced that the Independent Reviews were not working? 1.5billion spent to figure this out? They decided the reviews were too tough to conduct or is it really that too much was revealed? Again the banks win, bale outs not this. After 2 years in the process and still on the brink of many to lose thier homes while congress does nothing, it is a slap in the face to await a check for $125-$840 and expect this is justice.
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