Homeowners Continue To Be Submarined By Lender Foreclosures Despite Being Promised Loan Modifications

ProPublica reports:

• In May, we published a story about how disorganization at the big banks has led to mistaken foreclosures: homeowners were under review for a modification, but were suddenly foreclosed on because of a communication breakdown within the mortgage servicer. A recent survey of California housing counselors demonstrates that’s a widespread problem, at least in the Golden State.

For more, see Survey: Homeowners Working with Servicers Often Blindsided by Foreclosures.

See The Press Democrat: Frantic bid to save home and Complaints soar over loan modification misinformation for stories this week about a Santa Rosa, California couple who say they were submarined by a Bank of America foreclosure sale after allegedly being told that they qualified for a loan modification.