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Foreclosure Settlement Still Failing 700,000 Families One Year Later

Jan 22, 2014   //   by   //   Mortgage News Daily  //  Comments Off on Foreclosure Settlement Still Failing 700,000 Families One Year Later

By Around the Web One year after federal bank regulators pledged that a nearly $10 billion legal settlement would quickly deliver cash to foreclosure abuse victims, hundreds of thousands of people are still checking their mailboxes each day, only to find them empty. As of January, about 732,000 settlement checks had not been cashed, according to data shared with The Huffington Post by the Office of the Comptroller of the Currency — a number that exceeds the entire population of Baltimore. The total value of this unclaimed heap of money: $600 million. Regulators say they are doing everything they can to make……(read more)

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