Six Mass. banks fight foreclosure ordinances

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See Former Bank of America workers allege it lied to home owners. According to this article, six Bank of America employees have submitted affidavits, detailing how the Bank denied homeowners modifications and instead rewarded employees for pushing homeowners into foreclosure. A few excerpts:

3 The Foreclosure Ordinance does not state a specific amount that will be retained, instead providing only that "[a] portion of said bond shall be retained by the City as an administrative fee." Springfield, Mass. Ordinances ch. 285-10(A)(11) (2011). At a hearing in the district court, counsel for the City represented to

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Six western massachusetts banks, with easthampton savings bank as the lead plaintiff, challenged the ordinances. A U.S. District court judge upheld the ordinances. However, on appeal, the U.S. Court of Appeals issued a stay preventing Springfield from enforcing them.

The Mass. Supreme Court ruled on October 18, 2011 that a person who had purchased a foreclosed property 3 years previously had no rights to it, since it was foreclosed on ILLEGALLY! ALL.