The Foreclosure Crisis
October 13, 2010
Hundreds of thousands of homes may have been improperly foreclosed on. Some of the largest mortgage firms have halted foreclosures after allegations that they failed to follow proper procedures before evicting people. A Bank of America employee acknowledged that she signed up to 8000 foreclosures a month, often without reviewing them. This hour, we’ll look at what’s wrong with the foreclosure process and what effect this mess may have on the housing market and the economy. Marty talks with JIM CARR, Chief Business Officer for the National Community Reinvestment Coalition and KATHLEEN ENGEL, a Professor of Law at Suffolk University Law School.