U.S. Government Settles with Banks on Robo-Signing Scandal

 

The Justice Department and 49 out of 50 state Attorneys General announced a settlement agreement with 5 of the nation’s largest banks in the Robo-signing and Mortgage Service Fraud scandal that first came to light in late 2010.

The settlement, worth $25 billion dollars, was the largest government negotiated industry settlement since the Tobacco Industry settled in 1998.

In the Settlement, $5 billion is earmarked for $2000 payments to be distributed to borrowers who were illegally foreclosed on between January 1, 2008 and December 31, 2011. The remaining $20 billion will be used to help homeowners who are currently in danger of losing their homes by helping with loan modifications, principle reductions, refinancing, short sales, relocation assistance and other alternatives.

Distress Propert Expert - ShortSales & Foreclosures in West Palm Beach & Surrounding Areas. PB County

Shelda Hodges ASREOS RCA CIAS CDPE CFS CSP HRC ASD LDPD HAFA

Sandals Realty Group, Inc

500 S. Australian Ave. 6Th Floor West Palm Beach, Fl 33401

561-308-4663 (M)

561-651-4159 (O)

561-422-4829 (F)

Shelda@Sheldahodges.com   www.Sheldahodges.com http://Twitter.com/Experthodges  Blog http://www.experthodges.com

 

2 Comments on U.S. Government Settles with Banks on Robo-Signing Scandal

FEB
15
2012
269,485 Points 3 Featured Posts Outside Blog Hit Router Attended Rain Camp

Shelda: I can't wait to see how this all shakes out. It sounds like a bunch of lip service from the lenders as usual. We shall see!
10:43am • #1
272,155 Points 1 Featured Post Outside Blog Attended Rain Camp Called Shot Master

INTERESTING THOUGHT THE PROGRAM THAT IS I WONDER IF IT WILL WORK AS PLANNED
11:50pm • #2


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Shelda_150_2_-1

SHELDA HODGES,PA - CIAS CDPE CFS CSP ASD LDPD HAFA WEST PALM & SURROUNDING AREAS

West Palm Beach, FL

More about me…

SANDALS REALTY GROUP, INC

Address: 500 S AUSTRALIAN AVE, 6TH FLOOR, WEST PALM BEACH, Fl, 33401

Office Phone: (561) 651-4159

Cell Phone: (561) 308-4663

Email Me



Links

Archives

RSS 2.0 Feed for this blog