Foreclosure Settlement

[kmattin]

That ain’t no chump change. The New York Times reports that federal regulators and 14 major banks have reached a $10 billion settlement in the foreclosure abuse case. $3.75 billion will be cash relief to those Americans who dealt with foreclosure in 2009 and 2010. Six billion will be funneled towards homeowners in danger of losing their homes after falling behind on payments. The deal was almost held up by a demand of an additional $300 million to cover their role in the financial crisis, but that fell through. Another bright side of the deal: the end of a review of millions of loan files.

Read it at The New York Times

[tobee43]

can you provide the link??? please

[despritfreya]

Don't hold your breath. . .

http://www.nytimes.com/2013/01/06/business/bank-settlement-may-leave-tiny-slices-of-a-smaller-pie.html?_r=0

Des.

[tobee43]

i'm certainly not, after reading this:

" A settlement reportedly in the works with big banks will soon end a review into foreclosure abuses, and it means more of the same: no accountability for financial institutions and little help for borrowers."