Last week, JPMorgan Chase announced they were halting foreclosures in 23 states. Turns out, the bankers in charge of approving the foreclosure paperwork weren't even reading what they were signing. Now, one by one, foreclosures at America's biggest banks are grinding to a halt. It's gotten so bad, several states are taking the banks to court - calling for an immediate freeze on all foreclosures.
The banks created this mess, it's on them to clean it up. You have a right to know if your mortgage is affected.
Wall Street has bought and sold our mortgages so many times, they've lost track of who owns what. And now they're getting caught red handed. In one state, two banks tried to foreclose on the same home. In another state, BofA tried to take a house away from a man who'd never even had a mortgage. The more we learn, the worse it gets.
Banks are calling these "technical glitches." These are more than technical glitches. These are monumental screw-ups that are forcing families out of their homes. The banks raise our rates and change our terms - and if we make one mistake, we pay with our homes.
Don't have a mortgage? Pass this on to someone who does. Every single homeowner needs to know if their bank still holds their mortgage note.
