Did You Lose Your Home to Foreclosure between January 1, 2008 and December 31, 2011?
If so, you may “still” qualify for National Mortgage Settlement which expired on January 18th, 2013, however Florida Attorney General Pam Bondi says, to keep submitting your claims and she is working very hard to get this deadline extended. The settlement provides as much as $25 billion in relief to distressed borrowers and direct payments to states and the federal government.The agreement settles state and federal investigations finding that the country’s five largest mortgage servicers(Ally/GMAC, Bank of America, Citi, JPMorgan Chase, Wells Fargo) routinely signed foreclosure related documents outside the presence of a notary public and without really knowing whether the facts they contained were correct. Both of these practices violate the law. The settlement provides benefits to borrowers whose loans are owned by the settling banks as well as the many borrowers whose loans they service.
Key Provisions of the Settlement
– Immediate aid to homeowners needing loan modifications now.
– Immediate aid to borrowers who are current, but whose mortgages currently exceed their homes value.
-Payment to borrowers who lost their home to foreclosure.
-Immediate payments to signing states
-First ever nationwide reforms to service standards
Learn how to find out if your loan is affected by this settlement,the timeline for relief, how you will know if you are eligible and find links to State Attorney General’s website for specific news.
You can contact the National Mortgage Settlement Administrator at 1-866-430-8358 or visit www.nationalmortgagesettlement.com.
Information obtained from www.nationalmortgagesettlement.com and Legislative & Political forum with guest speaker Pam Bondi / Florida Attorney General attended at 2013 Florida REALTORS Meetings
N.O.W – “No Opportunity Wasted”