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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Banks Are Being Sued Left and Right


The four major banks are dealing with multiple legal issues, and they are spending Billions of dollars to defend themselves in court.  This information was provided in the each of the banks expense reports for the 1st quarter. The four major banks are Bank of America, JPMorgan Chase, Citigroup and Wells Fargo.  The banks are being sued for the following reasons; "securities infringements, overcharges involved in the origination process and reams of foreclosure challenges".  All four banks were investigated in April due to all the foreclosures that were conducted incorrectly. The banks will possible pay millions in compliance costs and billions in penalties.