Litigation
May 28, 2011
BofA Settles With Foreclosed Servicemembers
Bank of America Corp. agreed to set up a $20 million compensation fund to resolve allegations Countrywide Home Loans LP wrongfully foreclosed on more than 160 active duty service members' homes over the past several years.
Daily Journal Staff Writer
Bank of America Corp. agreed to set up a $20 million compensation fund to resolve allegations Countrywide Home Loans LP wrongfully foreclosed on more than 160 active duty service members' homes over the past several years.
BofA, which owns Countrywide, agreed in a consent decree filed in the Central District to pay any service member wrongfully foreclosed. The lending company also agreed to repair any negative credit reports...
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