By Kelly Avellino, NBC 12 If you lost your home through foreclosure, start checking your mailbox. Some 46,600 Virginians are eligible to receive a piece of a $25 billion settlement against five major mortgage companies, accused of abusing foreclosure practices. The Virginia Attorney General’s Office started mailing out claim forms Monday. Eligible candidates will receive at least […]

By Rachel DePompa, NBC 12 Millions of dollars meant to help distressed homeowners, may never reach the intended target. The funds are Virginia’s share of a $25 billion settlement by five of the nation’s largest loan services that admitted to illegally abusive foreclosure practices and even fraud. Virginia’s portion was $66.5 million, awarded in one-time lump […]

By Natasha Singer, The New York Times Bank of America has started sending letters to thousands of homeowners in the United States, offering to forgive a portion of the principal balance on their mortgages by an average of $150,000 each. The reduction for qualifying homeowners could amount to monthly savings of up to 35 percent on mortgage payments, […]