Bank of America has stated that it is “expediting” foreclosures, those properties that are in default are being processed quickly.

Well the banks need to realize that there is wartime act that makes it illegal to foreclosure on those involved in wartime service apparently Chase is being sued for violating this act.

Chase Bank is practicing unscrupulous behavior actions on consumers that have paid for the bank bailouts.

You can read here:
https://www.consumeraffairs.com/finance/chase_mortgage.html

Here’s some interesting stats:

Around 20 percent of all mortgages are bank-owned. Those loans which are underwater are generally not currently eligible for refinancing.

An estimated 22.5 percent of all residential properties with a mortgage — around 10.9 million of them — are underwater, according to data from CoreLogic.

California Attorney General Kamala Harris said last month the settlement would provide too little relief for her state’s homeowners.

A refinancing plan could lure California, which has some 2 million residents who owe more on their mortgage than their home is worth, back to the table.