foreclosure relief: Future Promises Serious Foreclosure Relief
- 02/10/12 08:30 AM
After a year of attempting a settlement with five of the nation's major banks, an agreement was made on Thursday with 49 states (Oklahoma being the exception) to resolve "abusive and negligent foreclosure practices" that were charged against the banks back in 2008. With $26 billion, the big lenders will aim to benefit both those that were wrongly foreclosed on in the past, and many home owners who are currently under water. An approximate $17 billion will go towards reducing principals for distressed home owners who are either under water or behind on payments. $3 billion will go towards helping those … (1 comments)
After a year of attempting a settlement with five of the nation's major banks, an agreement was made on Thursday with 49 states (Oklahoma being the exception) to resolve "abusive and negligent foreclosure practices" that were charged against the banks back in 2008. With $26 billion, the big lenders will aim to benefit both those that were wrongly foreclosed on in the past, and many home owners who are currently under water. An approximate $17 billion will go towards reducing principals for distressed home owners who are either under water or behind on payments. $3 billion will go towards helping those … (1 comments)
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