bad mortgages

Deal Reached in Foreclosure Mess

Posted on 01/7/2013 by |Money and Work | Comments

Bulletin Today | Money & SavingsAnother deal’s been reached related to the foreclosure mess. It seems that homeowners who were rushed to foreclosure improperly will get the biggest payout, up to $125,000, depending on the errors they encountered. The $8.5 billion deal, reached between 10 mortgage servicers and the Office of the Comptroller of the Currency (OCC) and the Federal Reserve, effectively ends a government-mandated program that examined banks’ foreclosure documents for abuses at the height of the housing crisis. You may remember it as the …