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You can find REO properties by searching RealtyTrac’s listings, or you may be able to compare properties on a bank’s website. For example, Bank of America and Wells Fargo each have an online ...
Wells Fargo and Company (WSF) announced yesterday that it has fired a senior executive who moved her family into a bank-owned property. Cheronda Guyton, the bank's senior vice president for ...
The foreclosure crisis was extensively covered by news outlets beginning in October 2010, and several large banks—including Bank of America, JP Morgan, Wells Fargo, and Citigroup—responded by halting their foreclosure proceedings temporarily in some or all states.
The Stabilization Trust serves as a bridge between financial institutions and localities by streamlining and standardizing the process of transferring bank-owned foreclosed properties – commonly known as Real Estate Owned (REO) – to local government and nonprofits. [14] The Stabilization Trust accomplishes this goal in two ways:
In October, Bank of America and Wells Fargo pledged to improve communications with borrowers seeking to modify their loans, after authorities found additional problems not covered by the 2012 deal.
Bank of America, Citigroup Inc, JPMorgan Chase & Co, Wells Fargo & Co, MetLife Bank, Aurora Bank FSB, PNC Financial Services Group Inc, Sovereign Bank NA, SunTrust Banks Inc, and U.S. Bancorp settle with regulators to pay out cash up to $125,000 to homeowners whose homes were being foreclosed when the paperwork problems emerged.
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