Fast Fact: Two of the most highly publicized bank investigations recently culminated in the BIGGEST settlements. But there’s no such thing as easy solutions…even the settlements are fraught with challenges.
WHY IT MATTERS
Millions were allegedly wronged by banks. For some, settlements set things right or at least acknowledge the wrongs. But most homeowners never asked for a modification or short sale approval, were never in foreclosure. If you’re one of these folks, there are other reasons the settlements matter. They translate to fewer distressed sales, good news for our home values. Payments to State and Federal governments inevitably trickle down to communities and tax payers. And the new standards banks and servicers are required to implement insure all customers better service.