The thought of facing foreclosure and the confusion about the process can make for a difficult time for any homeowner. However, when there are inaccurate numbers or timeline errors involved, the process or threat of home foreclosure can be even more frustrating for homeowners. Any Florida homeowner in the midst of home foreclosure or awaiting a loan modification may be interested to know that bank errors are still an issue.
It has recently been reported that three major banks are still plagued by costly errors when handling home foreclosures and loan modifications. The errors range in severity, but all affect those who are already struggling and trying to find a sensible or economically sound solution to their homeownership problems. One error still prevalent is wrong amounts cited as owed by homeowners. Banks are also still not responding to loan modifications or short sales as quickly as they should.