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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe Banks' "Penalty" To Put Robosigning Behind Them: $300 Per Person
Last edited Wed Apr 10, 2013, 12:24 PM - Edit history (1)
Article comes with a nice pie chart...
WASHINGTON Mortgage servicers tied to the independent foreclosure review settlement will begin sending the first wave of $1.2 billion in checks to troubled borrowers on Friday, federal regulators said.
Borrowers who receive a payment from the settlement can still take any other action against their mortgage servicer.
The servicers also cannot ask borrowers to waive any legal claims when accepting the payment.
Borrowers who receive a payment from the settlement can still take any other action against their mortgage servicer.
The servicers also cannot ask borrowers to waive any legal claims when accepting the payment.
http://www.zerohedge.com/news/2013-04-09/banks-penalty-put-robosigning-behind-them-300-person
edited to add:
The Federal Reserve and the U.S. Comptroller of the Currency say a total $3.6 billion in cash will be distributed to
4.2 million borrowers
got it?.......... They just admitted there were 4.2 million borrowers who got screwed.
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The Banks' "Penalty" To Put Robosigning Behind Them: $300 Per Person (Original Post)
dixiegrrrrl
Apr 2013
OP
Newest Reality
(12,712 posts)1. Reminds me
of penny candy. Yum.
ms.smiler
(551 posts)2. Here is the pie chart.
[IMG][/IMG]
I'm delighted that homeowners need not abandon their legal claims should they accept these inequitable payments. Homeowners will remain able to seek equitable damages for the great harm done to them. That is the only true way to hold these crooks accountable.
dixiegrrrrl
(60,010 posts)3. Bless you for putting that up.
I was having a very pre-occupied morning with assorted demands.