Around the country, State Attorney Generals are in negotiation with the country’s five biggest mortgage banks over the mishandling of foreclosures.
The negotiations call for a $20,000.00 reduction in princial for about a million homeowners facing foreclosure and a payment of $1,800.00 for those who have already lost their homes due to improper foreclosure practices.
If you are facing foreclosure or have already lost your home closely follow these negotiations to find out how your rights are impacted. Furthermore, any potential deal does not eliminate your rights as a borrower to enforce your rights against the banks.
For more information see: Political Push Moves a Deal on Foreclosures Closer.
Posted by: Joseph K. Githuku
Disclaimer: Information provided in “Ask the Lawyer” is for general informational and educational purposes only. It does not constitute legal advice, and may not be used and relied upon as a substitute for legal advice regarding a specific legal issue or problem. Transmission of the information is not intended to create, and receipt does not constitute, a lawyer-client relationship.