How To Take Advantage Of The Foreclosure Settlement

Mortgage and Lending with Guaranteed Rate Mortgage

How To Take Advantage Of The Foreclosure Settlement

Starting March 1st the $25 billion Robo-Signing (or Foreclosure) settlement will begin to go into effect. The settlement, put together between the US government and five major banks (Ally Financial Inc/GMAC Mortgage, Bank of America, Citigroup, JP Morgan Chase and Wells Fargo), is designed to help relieve many borrowers who are either struggling to make payments, owe more than their home is worth or have already lost their home to Take Advantage of The Foreclosure Settlementforeclosure.

But how do you take advantage of this new settlement if you're not a borrower in the above situations? What if you're a new homebuyer, just starting to look for a home?

This settlement will encourage banks to deal with the delayed foreclosures they've been sitting on lately, and eventually speed up the foreclosure process.

As these foreclosures go through, there will be an increasingly large amount of available properties to be sold, all at extremely low prices, creating a great opportunity for new homebuyers and real estate agents alike to get homes at great deals!

If you want more information about the settlement or how you can take advantage, contact your Guaranteed Rate loan officer.


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Chandler Real Estate Liz Harris, MBA
Liz Harris Realty - Chandler, AZ

Great points... will be interesting to see how the results wind up!

Feb 22, 2012 06:28 PM #1
dave bothell

Well i hope this all works out as planned! I hope the intended benifit in some way from this!

Feb 22, 2012 08:25 PM #2
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Chad Ronning

FHA, VA, USDA, Home Path

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