Massachusetts Update

The Mass attorney general, Coakley, has filed suit against the 5 largest mortgage lenders. The suit alleges fraud via robo-signing, and seeks relief and compensation to harmed homeowners. The suit is good news to a degree, but, even if successful, likely will take several years until any judgment or settlement is reached. Lenders named are: Citi, JP Morgan Chase, GMAC, Wells Fargo and Bank of America.