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Attorneys for Illinois May Sue North Carolina Banks for Foreclosure Practices

If a settlement isn't reached soon, state attorneys for Illinois and North Carolina plan on suing several banks over theirforeclosure practices.

According to Attorney General Lisa Madigan and Attorney General Roy Cooper of North Carolina, have been in talks with some of the nation's largest banks, including JPMorgan Chase & Co. and Bank of America Corp. Although the deadline has been pushed back thirty days, the attorneys general have no plans of waiting for the banks past that point. Cooper commented that, "If we don't get an agreement, we're prepared to go to court."

Madigan and Cooper are part of an executive group of attorneys general who have been attempting to negotiate with the banks. By working out agreements with the banks now, this group hopes to change future foreclosure practices to protect homeowners.

When you are in danger of losing your home, don't let the bank win. Contact a Chicago bankruptcy attorney today to stop the foreclosure process dead in its tracks.

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