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Tue October 16, 2012
Foreclosure Settlement Will Rain Checks On Thousands In South Florida
There's been a big consumer protection settlement for people who lost their homes to foreclosure and checks could be on the way early next year. Did you lose your home to foreclosure? And was your mortgage serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase or Wells Fargo? The Sun-Sentinel is reporting you may be eligible for a $2,000 check.
The agreement covers borrowers who lost their homes to foreclosure from 2008 to 2011. The five lenders agreed to a massive $25 billion national settlement earlier this year. Part of that includes money for Floridians served fraudulent "robo-signing" foreclosure notices by the five lenders. But one foreclosure defense lawyer said $2,000 doesn't go far enough in helping those who were tossed out of their homes by "criminal acts."