The major settlement between major banks and many of the state attorneys general may not absolve banks of all liability over problems with the mortgage process, Bloomberg reports.
Iowa Attorney General Tom Miller is leading a settlement with the lenders that is getting closer to finalization. However, he pointed out that the settlement would not prevent towns or individual states from suing lenders that allegedly cut them out of millions of dollars through filing fees, said the news source.
Harris County is one such municipality that may pursue the matter.
Houston Homes were hit especially hard in recent years, accounting for 2,466 foreclosures in September alone, according to RealtyTrac.. Lawyers for Harris Country said last week that they would were pursuing talks with county government officials to file claims against lenders. The request will likely be heard on October 25 by the Harris County Commissioners Court.
"This is a local issue. The county attorneys want a seat at the table and to be part of any discussion," assistant Harris County attorney John Odam, told the source.
Courtesy of 2M Realty News