What Does The Foreclosure Settlement Mean For You?
On February 9, 2012 the State Attorneys General for 49 states entered into a $25 billion settlement with five of the Nation’s largest banks, Bank of America, Wells Fargo, Ally Financial, JP Morgan Chase and City Group. The purpose of the settlement is to end home foreclosure abuse stemming from robo-signing and to provide some relief to homeowners who are: 1. Delinquent and underwater 2. Underwater but current 3. Lost homes to foreclosure in the past 3 years. The settlement covers 1.8 million homeowners nation wide. It is the largest consumer finance settlement in US history and is second in overall settlements only to...
Continue reading