Foreclosure compensation checks arrive, but anger some homeowners

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Foreclosure compensation checks arrive, but anger some homeowners

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Foreclosure compensation checks arrive, but anger some homeowners

NBC TODAY SHOW –

Millions of American homeowners who have struggled with foreclosures are now receiving checks for compensation from the companies that serviced their mortgages — part of the federal government’s efforts to resolve the foreclosure crisis. But some of those receiving checks tell NBC News that the payments are an insult that neither punishes the banks enough for “deficient” practices nor helps harmed homeowners recover. 

Karen Pooley, 50, of Seattle, told NBC News that she fell behind on her mortgage after losing her job in the building industry in early 2009, and received a notice of default in February 2010. 

Pooley said she’s been fighting to save her home from foreclosure for the past three years.   Believing that her servicer did not follow legal procedures, she said she has contested the foreclosure through her state’s foreclosure process, and managed to stop three foreclosure sales.  She said she also has tried to get authorities to investigate.

[NBC]

 

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4 Responses to “Foreclosure compensation checks arrive, but anger some homeowners”

  1. Sarah says:

    Wow, is anger was permitted on the Today Show? GE of course, was responsible for quite a bit of predatory lending.

  2. s gross says:

    I never submitted my paperwork in regards to the settlement, but yet I received a $300 check. It just is another layer of incompetence of this “review”. I, too, have been fighting my foreclosure for years. I have not decided whether I will even cash the check – after all, they bounced in the beginning and I will contact my lawyer as to any possible consequences

  3. dinsfla says:

    People not even in foreclosure are getting checks as well from my understanding. Epic Fail.

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