Mortgagers Still Giving Improper Foreclosure

Apparently the crackdown on corrupt mortgage firms isn’t working. According to a new nationwide survey published today by the National Association of Consumer Advocates, mortgagers are still initiating fraudulent foreclosure proceedings, either while homeowners await loan modification or by charging improper fees and making errors in the payment process. The National Consumer Law Center surveyed 260 consumer attorneys in 45 states and found that thousands of homeowners were improperly foreclosed on over the last year, and 66 percent of them had loans owned by Fannie Mae or Freddie Mac. “This survey provides yet more evidence that banks wrongfully foreclose on tens of thousands of homeowners every year,” said an attorney with NACA.