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Hundreds of foreclosure complaints still being filed after settling abuses

Foreclosure sign
Foreclosure sign

MILWAUKEE (WTAQ) - It’s been a year-and-a-half since the nation’s largest banks promised to end abuses which led to home foreclosures – and hundreds of Wisconsinites are still filing complaints.

The state Justice Department says it’s giving special attention to about 400 cases, many dealing with the same problems seen nationally.

The Milwaukee Journal Sentinel reviewed almost half the Wisconsin cases.

Just over a-third involve communication problems when financially-distressed homeowners ask lenders to modify terms of their mortgages. Another third involve paperwork that was mishandled. Other complaints are about the improper denials of mortgage modifications.

Back in February of 2012, five large U.S. banks agreed to pay $25 billion to settle lawsuits in Wisconsin and other states alleging various foreclosure abuses.

Joseph Smith, the official monitor of the settlement, says some homeowners continue to have problems but most get worked out eventually.

Nationally, Smith said about 650,000 people have been helped by the settlement. 

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