Released: May 07, 2008
Witnesses: Mortgage lenders abusing court system
Source: Kevin McCoy, USA Today
Mortgage lenders are abusing the bankruptcy court system by pursuing unjustified foreclosures against struggling homeowners, piling on questionable fees and misstating the amounts owed, witnesses alleged at a congressional hearing on Tuesday.
The result is a systemic breakdown that increases foreclosures, raises the number of families losing their homes and threatens the integrity of the legal system, the witnesses told the Senate Subcommittee on Administrative Oversight and the Courts.
Read Full Article: Witnesses: Mortgage lenders abusing court system
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