National Mortgage Settlement – Important Update!

I’m sure you heard about the settlement that 49 states and the federal government reached with the country’s 5 largest loan servicers. You may want to know how you can possibly get a piece of this… well, I have an answer for you.
Please share this important information with everyone you know!!!

If you or someone you know currently have or had a mortgage loan with either – Bank of America, Chase, Wells Fargo, Citi, or Ally/GMAC – you may be eligble to collect money from them.

The following website has been setup by the goverment for information on assistance if you had a foreclosure,  loan modifications for lower rates including principal reduction, re-financing, short sale assistance, and how to file a claim.
http://www.nationalmortgagesettlement.com

The settlement will provide as much as $25 billion in relief to distressed borrowers and direct payments to states and the federal government. It’s the largest multistate settlement since the Tobacco Settlement in 1998.

The agreement settles state and federal investigations finding that the country’s five largest loan servicers routinely signed foreclosure related documents outside the presence of a notary public and without really knowing whether the facts they contained were correct.  Both of these practices violate the law.  The settlement provides benefits to borrowers whose loans are owned by the settling banks as well as to many of the borrowers whose loans they service.

The information and application process is FREE!! Scammers are already trying to take advantage of this by asking for payment to assist – DO NOT PAY THEM!!!

  • About the Settlement: Learn about the settlement, who is affected and what claims may still be pursued against the banks. Find links to your state Attorney General’s Office to find state-specific information and contacts.
  • Help for Borrowers: Learn how to find out if your loan is affected by this settlement, the timeline for relief, how you will know if you are eligible. Find links to your state Attorney General’s Office to find state-specific information and contacts.
  • News: Read the national news release and find links to your state Attorney General’s Web site for state-specific news.

 

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