2012-03-05newswire.net

"JP Morgan (NYSE:JPM) has a new liability from mortage foreclosures on its hand, thanks to the Lawfirm of Ken Eade who won a landmark federal injuction against Washington Mutual and JP Morgan. The economic crisis of 2008 had its roots in the mortgage crisis and collapse of the American housing market. Millions of homeowners were pushed into foreclosure due to the illegal predatory lending practices of mortgage lenders. As the real estate crisis deepened, mortgage lenders had little incentive to work with borrowers, as it was more economical to simply foreclose. A recent court decision, however, over the alleged predatory lending practices of Washington Mutual Bank and its successor, JP Morgan Chase, may allow millions of these homeowners to sue their mortgage lenders for compensation."


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