Even as government agencies settle mortgage and foreclosure related lawsuits, the Dodd-Frank legislation takes effect and the nation grapples with the fallout from the largest credit crisis in U.S. history, the truth is we’re no better off today than we were when this entire mess began to unravel back in 2007.
The $26 Billion Foreclosure Settlement: Who Won? Who Lost?
February 19, 2012 by
A consortium of the Department of Justice and the Attorneys General of every state other than Oklahoma recently announced a $26 billion settlement with the five largest new mortgage and home mortgage refinance lenders to settle claims related to improper foreclosures. Although it has been hailed as a significant victory for consumers and has been compared to the landmark $206 billion 1998 tobacco settlement, the details of the agreement paint a different picture.
