mortgage relief plan 2012: $25+ Billion Mortgage Settlement between the US and the Big 5 Banks - Mortgage Relief Plan
- 02/11/12 03:49 PM
This week a $25+ billion settlement was announced, the so called mortgage relief fund, thus being one of the biggest multi-state settlement since the 1998 tobacco agreement. This settlement is between the federal government/state attorneys general and with the banks Bank of America, Wells Fargo, JP Morgan, Citigroup and Ally Financial (formally GMAC).
The $25+ billion settlement goes as following:
$17 billion in credits to the banks on homeowners in risk of defaulting on their mortgage. Up to $20k per homeowner on their modification. (hmmm... it not the average home underwater about $50k?)
This week a $25+ billion settlement was announced, the so called mortgage relief fund, thus being one of the biggest multi-state settlement since the 1998 tobacco agreement. This settlement is between the federal government/state attorneys general and with the banks Bank of America, Wells Fargo, JP Morgan, Citigroup and Ally Financial (formally GMAC).
;)
;)
;)
