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settlements: States and Lenders Near $25B Settlement - 01/24/12 11:49 AM
Government officials announced Monday that the nation's five biggest mortgage lenders have agreed to overhaul the industry, after robo-signing and deceptive foreclosure practices caused many consumers to lose their homes. The proposed settlement could reach $25 billion.
Even so, those who lost their homes to foreclosure are unlikely to get them back. Only about half the households who might be eligible for assistance will likely receive checks, and those checks will only be $1,800 each. That's a good amount of money, but nowhere near the cost of a home.
It's unlikely a settlement will be reached this week, according to a … (0 comments)

settlements: Class Action Lawsuit Settlement: Good News Or Bad For Your Taxes? - 06/02/10 01:08 PM
TaxMama Eva Rosenberg answers a question about class action lawsuit settlements on our Equifax Personal Finance Blog.
 
I recently received a question from Susan, who wanted to know if a settlement from a class action suit is taxable.Great question, but it's also very broad and open-ended. A number of examples came to mind.First, let's talk about the woman who won a substantial settlement, in the high six figures, from one of the aerospace companies operating out of Burbank, California.
Read Eva's advice on how to determine whether a settlement is taxable by following the link to the Equifax Personal … (0 comments)

 

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