Most mortgage settlement relief in Florida going to short sales, report says

Most mortgage settlement relief in Florida going to short sales, report says

Although the $25 billion national mortgage settlement’s goal is to keep people in their homes, big banks are doing much better at ushering Florida homeowners out, as a new report shows short sales dwarfing other forms of relief as lenders’ atonement of choice.

Under the settlement, five of the nation’s biggest banks must grant billions in relief through measures like refinancing mortgages and reducing loan amounts, letting homeowners dodge foreclosure while making payments they could afford.

Yet in the settlement’s first months, banks have plunked away at their required relief mostly by approving short sales, in which a home is sold for less than the owner owes, according to a report Monday from settlement monitor Joseph Smith.

Rest here…

~

4closureFraud.org

Comments
One Response to “Most mortgage settlement relief in Florida going to short sales, report says”
  1. bobbi swann says:

    Yeah, and do you know why??? Because under the GREAT ‘settlement’ the deficiency balance that the lenders are taking a hit goes towards the fee and penalties assessed under the GREAT ‘settlement’ (emphasis added) and this, my friends, is how the monies to ‘help Florida homeowners’ is being spent. For every short sale they (banksters) get a ‘credit’ against those funds. Shipshod freakin’ thieves! A cestpool of lies and deceit and Washington DC, the epi center of (sodom and gomorrah) evil.

Leave a Reply