Foreclosure "dual tracking" ended

The governments consumer watchdog has directed mortgage companies they must provide clearer monthly statements, warn borrowers before interest rate hikes, and assist the consumer in trying to avoid foreclosure. The Consumer Protection Finance agency has stopped the practice of "dual tracking". Dual tracking is continuing to push a consumer into foreclosure while at the same time the consumer is negotiating to lower their monthly payments as a measure to keep their home. The new directives will apply fairer and more effective guidelines for borrowers.