Some who suffered foreclosures say the payouts are a pittance, and many homeowners in trouble won’t qualify for help.
The massive mortgage settlement may be setting new national standards for loan servicing, but it may be too little and too late to help troubled homeowners.Many homeowners will see reductions in the principal they owe on their mortgages. In California, those who endured foreclosure probably will see checks averaging $1,500 to $2,000.”It’s a form of very rough justice,” said Paul Leonard, director of the Center for Responsible Lending’s California office. “There’s really no screening to determine whether these were wrongful foreclosures; they’re going to give something to everybody regardless of the circumstances.”email@example.com
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Contact Bankruptcy Attorney Susan J. Salehi to stop your foreclosure today at (805) 654-1467