Foreclosure Strategies
May 10 2018
The best way to deal with a foreclosure is to take aggressive legal action when the foreclosure laws... [Read More...]
January 3, 2013 By
The mortgage relief packages were part of the settlement of a lawsuit brought by the United States government and the Attorneys General in 49 states. The total settlement package was over $25 billion. The banks involved in the settlement were Ally Financial Inc., Bank of America Corp, JPMorgan Chase & Company, Citibank and Wells Fargo & Company. The lawsuits, brought by the Federal government and the state Attorneys General, dealt with problems caused by many financial institutions bringing foreclosure proceedings without properly investigating as to whether they had the appropriate documents to verify they were owed the money from the homeowners.
Unfortunately, there are an additional 11 million Americans who owe money to the financial institutions in amounts more than their homes are worth. All of these Americans have homes that are under water. There are 11 million homeowners also in need of help with their mortgages!
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