Mitchell Stein, Esq.: Banks Are Expected To Pay Fines for Improper Foreclosures on Homes

This is the start of a wave that has been awaited for a long time: banks involved in creating the overall national mortgage foreclosure crisis are expected to pay for their doings.



This is the start of a wave that has been awaited for a long time: banks involved in creating the overall national mortgage foreclosure crisis are expected to pay for their doings. Recently, the announcement by well known names such as Bank of America, Wells Fargo and Citigroup acknowledged that they expect to pay fines for their improper practice of foreclosures on homes, according to Mitchell J. Stein, Esq. of Mitchell J. Stein & Associates.

𠇏inally we are going to witness justice being served by bringing the major banks to pay for their actions, no matter what size of settlement or fines they will pay," said Mitchell J. Stein, Esq., a 25-year award-winning litigator, trial lawyer, and philanthropist dedicated to protecting consumers and victims’ rights in reigning in abusive practices of banks, lenders and others.

More than 50 U.S regulators and state attorneys generals are actively involved in investigating the wrongful bank services and foreclosures against homeowners. The New York Times stated that the largest asset bank Bank of America said it is likely to have material fines and significant legal expenses. In addition, the largest U.S. mortgage lender Wells Fargo stated it is likely to encounter sanctions or fines, and Citigroup announced that it expects to pay fines or announce a plan of capital reductions.

"This is the time for homeowners who feel they have been part of this wrongful foreclosure practice to ensure their rights are protected through expert legal counsel," said Mitchell J. Stein, Esq.



Mitchell J. Stein & Associates is a California-based law firm founded by M.J. Stein, Esq. a 25-year award-winning litigator, trial lawyer, financier, and entrepreneur who has represented many of the world's largest companies and has been involved in some of the highest profile cases in the Nation's history. The Firm’s philosophy is based on the belief that their clients’ needs are of the utmost importance and, as a result, a high percentage of the Firm’s business has been from repeat customers and referrals. The Firm’s practice areas include Complex Litigation, Bank Problems, Mergers & Acquisitions, Commercial and Residential Foreclosures , and Bankruptcy Litigation. Mr. Stein is also the founder of VIPS Foundation (Victims of Injustice Pain and Suffering), through which victims nationwide, over the last 15-years, have received assistance following unfortunate events that subjected them to oppression or mistreatment. In that regard, Mr. Stein received the inaugural Mitchell J. Stein Benefactor Award from the National Organization for Victims Assistance (NOVA) for his work in protecting victims’ rights. Visit www.mjsteinassociates.com or www.dobielaw.org for more information.