If you’re wondering when help will arrive for your underwater home, on February 9th, 2012, a giant step forward was taken on your behalf.
The Obama Administration announced a settlement with five of the largest banks, Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial, and attorneys general in all states with the exception of Oklahoma.
The $26 billion foreclosure settlement brings to a close the litigation surrounding the use of robo-signing in the foreclosure process and may provide much needed relief for many of the nation’s underwater homeowners.
Background
[Read more…] about Mortgage Plan to Help Homeowners – $26 Billion Settlement with Big Banks
