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Michael Laine- Broker/REALTOR®'s Blog

By Michael Laine - REALTOR® | Agent in Charlotte, NC

Judge Gives the Go for Foreclosure Settlement

$26 billion, yes with a B.

That is how much a federal judge has just approved to settle foreclosure processing errors, which will allow for the nations five largest lenders to begin adminstering aid to home owners. This aid will help to compensate homeowners who may have been wrongfully foreclosed upon and may also allow for mortgage modifications including principal writedowns for up to 1 million home owners.

For more information check out this video.

Source: CNN Money (april 6, 2012),REALTOR Mag

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