Minnillo & Jenkins, CO. LPA
Call 513-723-1600
For A No-Pressure, Free Consultation

Case highlights ongoing abusive foreclosure practices

After years of negotiations and press scrutiny, five of the nation's largest banks settled with both federal and state officials in early 2012. In their settlement, the banks assured officials and the American public that their widespread abuse of the foreclosure process was history not to be repeated ever again. Unfortunately, these promises remained intact for fewer than two years. The media has been reporting in recent months that flagrant abuses of the system and of homeowners are continuing unabated.

As a result of this unquestionably frustrating turn of events, lawmakers and citizens alike are again seeking to hold abusive banks accountable in court for their ongoing abusive practices. A lawsuit filed this month by the attorney general of one Midwestern state illustrates just how critical it has become to ensure that these abusive practices are halted once and for all.

The 2012 settlement requires banks to audit, vet and generally supervise property management companies who are hired to determine whether homeowners facing potential foreclosure actions have abandoned their property. Only when property has been abandoned may these contracting companies secure the abandoned homes. The new lawsuit asserts that the largest property management contracting company in the industry has been breaking into obviously occupied homes, bullying occupants, damaging property, removing property, shutting off utilities and even changing the locks of occupied homes.

Private lawsuits like this one have recently been filed in several states. At least some of the nation's largest banks continue to violate the terms of the 2012 settlement agreement, according to these lawsuits. Federal and state officials must rein these abusive practices in and hold violators accountable or these injustices will never fully be resolved.

Source: New York Times, "Deceptive Practices in Foreclosures," Sep. 14, 2013

No Comments

Leave a comment
Comment Information
Email Us For A Response

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Contact us right now for a free bankruptcy consultation

NACBA - National Association of Consumer Bankruptcy Attorneys

Proud Member NACBA

We are proud members of the NACBA, a national organization dedicated to serving the rights of consumer debtors. Read More

Super Lawyers

Jenkins Named Super Lawyer!

Founding partner, Christian A. Jenkins, was selected by his peers and the media as a Super Lawyer. Read More

Cincinnati Office
2712 Observatory Avenue
Cincinnati, OH 45208

Phone: 513-723-1600
Cincinnati Law Office Map

Cincinnati Office
792 Eastgate South Dr
Suite 150
Cincinnati, OH 45245

Phone: 513-685-0612
Cincinnati Law Office Map

Fairfield Office
447 Nilles Rd
Suite 9
Fairfield, OH 45014

Phone: 513-795-0995
Fairfield Law Office Map

Covington Office
526 Philadelphia St.
Covington, KY 41011

Phone: 513-795-0995
Map & Directions