My philosophy used to be that if a consumer issue is a couple of years old, it’s rarely worth pursuing. Mary Ellen Pennell of Winsted changed my mind. She contacted me about a four-year-old case she had against Bank of America. Pennell had written a $2,202.22 check for a relative who she later found...
by Paul Kiel Yesterday, administration officials stood alongside state attorneys general to announce a $25 billion mortgage settlement. It was reminiscent of a big announcement by administration officials three Februarys ago involving an even bigger number: $50 billion. That money was supposed to go to the administration’s signature mortgage modification program, which eventually became...
We have little details on exactly who will or who won’t receive part of the the $25 billion federal-multistate settlement with the nation’s five largest mortgage servicers, but Connecticut Attorney General George Jepsen said he estimates Ct’s share is $190 million. According to Jepsen, , a member of the negotiating team: Connecticut borrowers will...
Before patting the backs of all the Attorneys General for their $25 to $27 billion settlement with huge banks, you might want to read what banking analyst Dick Bove said on CNBC TV this morning. “Those people lucky or smart enough to stop making payments on their homes may get their loan balances reduced,”...
