There has been a settlement with five BIG banks. Bank of America, J.P. Morgan Chase & Co., Citigroup Inc., Wells Fargo & Co., and Ally Financial Inc., the company formerly known as GMAC.
It's been more than a year of having discussions with banks over the foreclosure practices. This deal should should offer relief to more than one million U.S. homeowners who are having issues paying their banks or have lost their homes to a foreclosure.
Why & What happened here ? It's called Robo-Signing! This is when employees of these banks just glanced at paperwork to determine whether all paperwork is in tact.
This has come to be the largest settlement ever of $26 billion.
I'll See You On The Ranch...........
Jim Soda, Luxury Homes Specialist, Realtor® ABR
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