“The National Bank of Canada is attempting to foreclose upon hundreds of American families’ homes in California over old credit card debts, according to a published report. Bay Citizen reporter Rick Jurgens writes that the bank’s debt collection unit, Credigy Receivables, began filing foreclosure lawsuits recently that take advantage of a loophole in California’s laws that lets them go directly for a debtor’s home even if that property was not offered as collateral for a loan.”
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