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Check-up on National Mortgage Settlement
How many homeowners have the banks been able to help following the National Mortgage Settlement? According to this West Palm Beach news report, apparently, not many... yet.
 
PALM BEACH COUNTY, Fla. - It's been three months since the $25 billion National Mortgage Settlement was announced.
The news was exciting for millions of homeowners struggling to make ends meet: if your mortgage is through Wells Fargo, Citi, JPMorgan Chase, Ally or Bank of America, you could be getting relief.
But not everyone will qualify and it could take up to three years before you see any kind of reduced payments.
Darish Still, the president of Consumer Credit Managing Services, a local non-profit housing counseling agency, says your best bet is to start doing your research.
“Go to nationalmortgagesettlement.com, There you're going to get info about the settlement itself, the timeline associated with settlement, and what kind of assistance those eligible homeowners can expect to receive through the settlement,” Still said.
This week we asked all five banks how many customers they've been able to help since the settlement was announced. None had specific numbers.
Bank of America did tell us that it's mailed letters just this week to more than 200,000 ... more

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