Banks get leeway in foreclosure deal
In February, JPMorgan Chase donated a home to an Iraq War veteran in Bucoda, Wash., and Bank of America waived the $140,000 debt that a Florida man still owed after the sale of his foreclosed home. Over the last year, Wells Fargo has demolished about a dozen houses in Cleveland. Banks do things like this - real estate transactions that do nothing to prevent foreclosure - all the time. But beginning this month, they can count such activities as part of their new commitment to help people stay in their homes.