Majority Say Banks Should Pay Foreclosure Victims

June 28, 2011 (PRLEAP.COM) Business News
Homeowners who have suffered through illegal foreclosures to become victims at the hands of bankers should be financially compensated by the lenders, according to a new Housing Predictor opinion poll.

Banking analysts say the number of foreclosure victims who have suffered through illegal foreclosures may run into millions of homeowners of the more than 7-million that have been foreclosed so far in the foreclosure crisis.

The survey indicates that despite the blame Americans place on homeowners who got in over their heads financially they still feel laws should be followed properly in the foreclosure process. Visit for full details on the survey.

Mortgage servicing employees admitted to making mistakes signing sworn statements on the legal paperwork to file foreclosures without authenticating the ownership on hundreds of thousands, perhaps even millions of mortgages, according to bank servicing company representatives. Attorneys general in 26 states are investigating the foreclosures and are attempting to reach out of court settlements with bankers involved in the scandal.

Housing Predictor regularly surveys visitors to its website on important issues related to real estate to get a pulse on how consumers feel and tracks more than 230 local housing markets in all 50 U.S. states, forecasts markets across the country and keeps visitors up to date on real estate news and mortgage rates.