This is a follow-up to the previous post I re-blogged of Bob's. If you or someone you know is trying to get a loan modification or short sale approved with One West Bank, make sure you read this post and the Sacramento Bee Article the post links to.
You may have recourse!
Sac Bee Article: OneWest Bank Accused Of Pushing Home Loan Borrowers Into Foreclosure
In an effort to keep everyone that has been following this story apprised of new developments, I wanted to post the article that just came out in the Sacramento Bee today. It looks like homeowners are fighting back and filing lawsuits. To view the article, click here.
Never mind that fact that loss-share agreements are expected to cost the FDIC (and ultimately, the U.S. taxpayers) $122 Billion. Attorneys are now saying that this practice is unfair to borrowers trying to work with their lenders, as they provide an incentive to disapprove loan modifications, and proceed to foreclosure.
Hopefully, IndyMac and the FDIC will finally get what is coming to them.
Bob Hertzog
www.foreclosureuturn.com
Thank you for stopping by. Your comments on this post are welcomed and appreciated.
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