Getting your player ready...
Bank of America was sued by homeowners seeking to block the bank’s proposed $8.5 billion mortgage-bond settlement with investors.
The settlement would cause more foreclosures and fail to protect homeowners from Bank of America’s “illegal” servicing of loans, the group said in a complaint filed Tuesday in federal court in Manhattan.
“The settlement agreement will speed up foreclosures, perpetuate existing servicing abuses in the system, and undermine federal programs designed to stabilize the housing market,” the four homeowners said.
Denver Post staff and wire reports
