Ben Hallman: Foreclosure Settlement Still Failing 700,000 Families One Year Later

Categorized | STOP FORECLOSURE FRAUD

Ben Hallman: Foreclosure Settlement Still Failing 700,000 Families One Year Later

Ben Hallman: Foreclosure Settlement Still Failing 700,000 Families One Year Later

HuffPO-

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 sure that all of those who qualify — 4.4 million people who received a foreclosure notice from one of more than a dozen major U.S. banks — receive their share of the $3.6 billion pie. It’s not clear how many of the uncashed checks were delivered to the wrong address, though regulators have acknowledged in the past that tracking people down has proved vexing.

[HUFINGTONPOST]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8643 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives