Up to 40 states plan joint inquiry into foreclosures

By Associated Press
Sunday, October 10, 2010 11:36 EST
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The attorneys general of up to 40 states plan to announce soon a joint investigation into banks’ use of flawed foreclosure paperwork.

A person briefed on the investigation said Saturday night that an announcement could come as early as Tuesday. The person spoke on condition of anonymity because the investigation was not yet public.

Iowa Attorney General Tom Miller will lead the investigation. Miller already has been leading multistate reviews of questionable foreclosure documents.

A joint investigation by 40 states would further escalate pressure on banks to widen their suspensions of foreclosures. On Friday, Bank of America became the first bank to halt foreclosures in all 50 states.

FULL AP STORY FOLLOWS BELOW

Associated Press
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  • http://pulse.yahoo.com/_DB2KS2TYIYO567EIT5FRVNGUGQ ccc

    so which 40 states…?

  • http://www.facebook.com/people/Richard-Cleary/685251799 Richard Cleary

    Works for me. Maybe Wells Fargo will stop trying to foreclose on me even though I always pay my mortgage and have successfully obtained a loan modification.

  • Anonymous

    It would be easier to find which States AREN’T investigating.

  • Anonymous

    I would like to see a few bankers go to jail for fraud and conspiracy. Especially those like the Wells Fargo execs who gained big bonuses even though Wells Fargo paid no income taxes.

  • Anonymous

    Wells Fargo stole $500 from me and probably did the same to ALL of its customers by not crediting all of my Jan. 2006 interest payment for that month’s payment. It under-reported my 2006 interest total by $500 to the IRS but never demanded I pay it (since I paid it!). I complained by phone but they never called me back about it. Imagine if Wells Fargo pocketed but never reported a few hundred “misappropriated” from every account’s end of year/new year payment?

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