Mortgage Settlement Aids 550K Homeowners, Totaling $45 Billion

Hot news from AZ Home Help:

Posted To: MND NewsWire

The five mortgage servicers involved in last year's $25 billion settlement over servicer errors and abuses have now distributed an average of $82,000 in relief to each of 550,000 homeowners. Joseph A. Smith who heads the Office of Mortgage Settlement Oversight said this is a total of $45.83 billion that has been distributed in less than one year following the settlement agreement between the servicers and 49 state attorneys general, the Departments of Justice and Housing and Urban Development (HUD). Smith's office released an interim report on the progress of the settlement distribution today. Smith said he is required to file his first progress report with the courts in the second quarter of this year but he is providing this, a second interim report, as part of an ongoing effort to inform...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/02212013_servicer_settlement.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com