Banks, Collection Firms Pursue Claims After Homes Foreclosed
November 3, 2009 by admin
It’s really upsetting to clients,” said Nadine Cohen of Greater Boston Legal Services, which provides free lawyers for the poor and has seen a handful of post-foreclosure cases so far. “People got outrageous subprime loans that they never could have afforded, lost their homes to foreclosure and then the second-mortgage companies come after them.”
Experts say consumers faced with such collections often end up declaring bankruptcy, sullying credit scores that had just begun recovering from the underlying foreclosures. Read more about collection firms…
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