Robo – Signing Settlement Taking Shape

Five of the nation’s largest banks agreed to a $25 billion dollar Robo-signing settlement. The agreement is between the five Banks and the Justice Department with 49 state Attorney Generals.

Some of the settlement details include payments to be distributed to borrowers who were illegally foreclosed on between Jan 1, 2008 and Dec 31, 2011. Much of the settlement dollars will be used to help homeowners who are currently in danger of losing their homes. Help could come in the form of loan modifications, principle reductions, refinancing, short sales, relocation assistance and other alternatives.

I will be providing additional detailed information as it becomes available.  Please feel free to share this and any other useful information from my blog with others.

I am always available to help you with your real estate needs.