CNN reports that predatory lending lawsuits are increasing, and many homeowners are winning: “While many of these suits are still winding their way through the legal system, some banks have already settled for millions of dollars.” Defendants include some of the biggest names in the mortgage business — Wells Fargo, CitiMortgage, and Bank of America (formerly Countrywide). With foreclosures continuing to rise, borrowers are looking to force banks to modify unaffordable loans or to stop them from foreclosing on homes.

via Predatory-lending lawsuits on the rise

Culik Law is a Massachusetts foreclosure defense law firm. We provide no-cost consultations on all mortgage issues, whether for foreclosure defense or loan modification. Phone: (978) 841-9570.