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A 91-Year-Old Risks Losing His Home Over $20

A 91-Year-Old Risks Losing His Home Over $20

At 91, José Torrado faces the possibility of losing his home over a $20 discrepancy. His bank, Bank of New York Mellon, attempted to foreclose on his home, claiming he did not have proper homeowners insurance, even after Mr. Torrado provide proof of insurance, sending him confusing claims that Mr. Torrado did not understand.

A wave of foreclosures is coming. Floridians need protection from predatory lenders | Opinion

A wave of foreclosures is coming. Floridians need protection from predatory lenders | Opinion

The moratorium on foreclosures of government-backed mortgage loans ended June 30, and those of us who see the foreclosure system up close are worried.

Why? We see day in and day out how easy it is for mortgage lenders and servicers to wrongly toss people from their homes — and sometimes illegally. A decade after major banks paid a $25 billion settlement for predatory mortgage practices, many of the same practices are still taking place.

We’re not talking about deadbeats trying to avoid their debts. We’re talking about neighbors, family members and friends trying to do the right thing and keep a roof over their head after running into financial trouble, especially during the pandemic shutdown. An estimated 10 million Americans are behind in their mortgage payments, and 1.8 million are 90 days past due, four times as many as before the pandemic.