Millions Expected To Spruce Up The Snowbanks They’re Currently Living In With Foreclosure Settlement Money

abandoned house Maine news from The Rumford MeteorWASHINGTON — Almost 4 million homeowners might receive cash compensation and mortgage relief in a multi-billion-dollar settlement with 10 major banks, government regulators announced Monday. Bank of America, JPMorgan Chase, Wells Fargo and seven other mortgage-servicing companies have agreed to give borrowers $3.3 billion in direct payments and $5.2 billion in the form of loan modifications and other assistance to settle allegations that they wrongly foreclosed on homeowners in 2009 and 2010. The other lenders are Citibank, MetLife Bank, PNC, Sovereign, SunTrust, U.S. Bank and Aurora. Eligible homeowners may receive payments that range from hundreds of dollars to $125,000, depending on the type of error. (read more at Bangor Daily News)

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Posted by on Jan 8 2013. Filed under featured, Polly Ticks. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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