Principle Reductions on Distressed Mortgages May be on the Way

By
Real Estate Sales Representative with Wizards of Waz Real Estate

Relief may be on the way for distressed homeowners in Maricopa Arizona. But don't hold your breath!

In a recent article posted by DSNews.com, the negotiation talks between the state attorneys general and the nation’s five largest servicers are entering their second year but may be getting close to reaching a deal. The settlement currently on the table would assist about 1 million homeowners in obtaining principal reductions and would provide “direct compensation” to others, according to Reuters.

That being said, a number of Attorney Generals have "left the table" so it remains to be seen if there will be a settlement anytime soon.

 

Read the entire article here http://bit.ly/xcPJoD

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Tags:
foreclosures
principal reduction
maricopa arizona foreclosures
short sales in maricopa arizona
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Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for sharing the information. I hope this will help homeowners facing foreclosure.

Jan 22, 2012 12:57 AM #1
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Rainer
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Bill "Waz" Wasowicz

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