In the past week, according to HousingWire.com, the Consumer Financial Protection Bureau is working toward adding additional measures to make sure that homeowners going through foreclosure are being treated fairly by mortgage companies . Some of the measure include:
It's hard enough for many Floridians without the added stress of identity theft. Unfortunately, this type of crime is growing alarmingly fast, and it's negatively affecting people's credit all over the country. This can have serious consequences, from having credit card applications denied to being unable to get a car or mortgage loan. Victims of identity theft often have their credit ruined through no fault of their own, and in many cases they have no idea it's happened to them.
Many times, filing for bankruptcy in Florida will give a person some debt relief while still being able to keep his or her home. Chapter 7 bankruptcy discharges most debt and lets people obtain a fresh financial start. However, if someone has been faithfully paying a second mortgage after successfully completing a Chapter 7 bankruptcy, what happens if they later find out the bank had written off the loan rather than reaffirming it? Are they off the hook if a collection agency took over the debt, even if the homeowner never heard from the agency?
Almost a year ago, the nation's five largest banks entered into a $26 billion settlement agreement with 49 state attorneys general after being accused of improper foreclosure practices such as "robo-signing". But the lenders -- including Bank of America, JPMorgan Chase, Wells Fargo and Citigroup -- aren't off the hook yet.