Foreclosure, Foreclosure Settlement | featured news

DealBook: Mortgage Relief Checks Go Out, Only to Bounce

Foreclosure Checks

Relief checks issued as part of a settlement over foreclosure abuses have bounced, an unfortunate twist for consumers who have already faced problems over reviews of troubled mortgage loans.

 

Wrongful-Foreclosure Compensation For Homeowners Could Be As Low As $500

Foreclosure Settlement

For homeowners trying to get reparations in the wake of the foreclosure crisis, it's been a hit-or-miss experience. This week, another group of Americans bruised in the housing bust will get payouts from the banks, money meant to help them get on their feet again, but the cash may prove disappointing for many.

 

Government asks judge to approve landmark settlement over banks’ foreclosure practices

Foreclosure Settlement

Government officials on Monday asked a federal judge to approve a landmark settlement with some of the nation’s largest banks over flawed and fraudulent foreclosure practices, more than a month after they announced the $26 billion deal with fanfare at the Justice Department.

 

Bank of America to reduce principal for up to 200,000 homeowners

Bank of America said Friday it would reduce by about $100,000 the amount owed by as many as 200,000 underwater homeowners as part of the recently announced government foreclosure settlement with top mortgage servicers.

 

U.S. foreclosure deal slowed by infighting: sources

U.S. foreclosure deal slowed by infighting: sources

U.S. regulators' efforts to settle with banks over improper mortgage foreclosures are being hampered by infighting among the groups involved in the talks, and a settlement may take a while, according to sources familiar with the matter.

 

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