NATIONAL NEWS
February 2012
10th Day
Washington
It's a bang to the banks as 49 states joined in a settlement regarding foreclosues on homeowers which began in 2008. Attorney General Eric Holder stated that 29, billion dollars in a way to find some relief. Hurt borrowers from 5 banks suffered home foreclosures due to denial of lowering mortages and engaging in quick foreclosure tactics. Citi-bank, Bank of America, JP Morgan Chase, Wells Fargo and Ally are among the top largest banks targeted in the settlement. The total settlement will cost the banks in paying at least 750 million homeowers checks ranging from 1,500 to, 2, 000 dollars. President Obama stated that " this deal is one step, ...this settlement is a start." This also allows homeowers to pursue their own suits against banks whereby they may recover losses and sufferings in the lost of their homes. Some homeowers feel the settlement has come too late, since they have lost their homes and will never get them back, but still they are willing accept the checks.
Bang!
Those banks better rap up those payouts!
Posted By: MIISRAEL Bride
Friday, February 10th 2012 at 10:58AM
You can also
click
here to view all posts by this author...
