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The impacts of the Southern California foreclosure crisis is reaching far reaching.
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Mortgage servicers usually make money on foreclosures as they generally don't risk losing money on foreclosures.
Bank of America has modified only 4% of the eligible mortgages, and Wells Fargo has modified 6%.
Lucrative fees gained even in foreclosure
But Plenty of Homeowners Keep Calling Law, Real Estate Firms Seeking Assistance