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News Link • Housing

Foreclosure Settlement Fails To Force Mortgage Companies To Improve

•, By Peter S. Goodman
 Katie Diaz arrives at the Bronx County Courthouse hoping for clarity, if not a reprieve from the foreclosure case threatening her home. Five months has passed since she submitted an application to Bank of America seeking lowered mortgage payments. She is eager for a decision -– an approval, a denial or at least a negotiation.

She gets none of these things. Instead, in the course of a perplexing morning spent beneath the dim chandeliers of Courtroom 607, she absorbs a display of the chaos that still besets the nation's foreclosure proceedings, despite promises of improvement from major banks under a settlement with the Obama administration and state attorneys general.

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