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Banks face class actions for not modifying mortgage loans (access required)

By: Sylvia Hsieh
Staff writer
Published: November 15, 2010

Tags: , , , , , , , ,

Several class actions have been filed against banks around the country for not fulfilling promises to modify borrowers' mortgage loans under the federal HAMP program. The Home Affordable Modification Program was launched in March 2009 to help stave off the national foreclosure crisis by allowing qualified borrowers to redo their mortgages at lower rates. Consumer lawyers complained ...
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