If you thought the banksters couldn't get any more evil, think again.

[KamaAina]

http://articles.latimes.com/2011/apr/14/business/la-fi-dual-tracking-20110415

Mortgage lenders call it "dual tracking," but for homeowners struggling to avoid foreclosure, it might go by another name: the double-cross.

Dual tracking refers to a common bank tactic. When a borrower in default seeks a loan modification, the institution often continues to pursue foreclosure at the same time.

Lenders contend that dual tracking simply protects their investment if the homeowner is unable to qualify for new loan terms. Mortgage servicers can lose money if they don't foreclose in a timely manner, and repossessions often are complicated and lengthy....

"We don't think that a homeowner who is making a good-faith effort to work through their troubled mortgage should have the roof ripped out from over them while they are negotiating, or trying to negotiate," said Geoff Greenwood, a spokesman for Iowa Atty. Gen. Tom Miller.

The article is nearly a year old, yet to my knowledge, nothing has been done, at least not in CA.