46,600 Virginians to Receive Foreclosure Fraud Settlement Checks

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 […]

12 Investigates: Homeowners Missing Out on Mortgage Settlement Money

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 […]

Bank of America Starts Mortgage Reduction Effort

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, […]

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