Recent Mortgage Developments Validate Homeowner and Housing Counselor Concerns


San Francisco, CA – October 4, 2013 – (RealEstateRama) –Three important developments this week confirmed concerns about mortgage servicing expressed by housing counselors throughout California in a state-wide survey earlier this year. A federal judge ruled in favor of surviving spouses trying to avoid foreclosure, New York’s Attorney General sued Wells Fargo and announced improved agreements with Bank of America over foreclosure prevention efforts, and Joe Smith announced new loan servicing metrics under the National Mortgage Settlement. The developments, along with reported settlement talks between Chase Bank and the Department of Justice, provide hope that more homeowners will receive appropriate help when they seek help from their banks or servicers.

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