The Check Is In The Mail
That’s the word out of Washington this week to victims of some of the worst foreclosure fraud in the country. A handful of people will get $125,000, according to the Office of the Comptroller of the Currency and Board of Governors of the Federal Reserve System.
But most who receive checks won’t get anywhere near enough to fairly compensate them for the plethora of fraudulent foreclosures and predatory lending practices at the hands the nation’s largest lenders.
Remember, this settlement involved only those in foreclosure in 2009 and 2010 with loans serviced by 13 lenders who signed a settlement with the federal government.
Regardless of whether you receive a check, you’re still entitled to your day in court if you were the victim of a fraudulent foreclosure.