Subscribe Register Login

Thursday, July 31, 2014, 4:34 a.m.
Top Picks - Capture Arkansas

10 banks agree to pay $8.5 billion for foreclosure abuse

By The Associated Press

This article was published January 7, 2013 at 11:13 a.m.

— Ten major banks and mortgage companies have agreed to pay $8.5 billion to settle complaints that they wrongfully foreclosed on the loans of homeowners who should have been allowed to stay in their homes.

Federal Regulators say the settlement ends a review process of foreclosure files required under a 2011 enforcement action. The banks mishandled paperwork and skipped required steps in the foreclosure process.

Advocates estimate that about 400,000 people are eligible for compensation of a few hundred dollars, up to $125,000.

Read tomorrow's Arkansas Democrat-Gazette for full details.

Comments on: 10 banks agree to pay $8.5 billion for foreclosure abuse

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • Outside sales

    outside sales:Local siding and window company Looking for ou...
    LITTLE ROCK, AR

  • Teachers

    nevada school district is accepting applications for the fol...
    ROSSTON, AR

  • Cnas

    Greystone Nursing and Rehab 121 Spring Valley Road, Cabot AR...
    Cabot, AR

  • Dialysis-prn rn's

    dialysis — prn rnsVisit http://www.uams.edu/jobs For more in...
    LITTLE ROCK, AR

  • Research interviewer

    MarketStrategies International Will conduct customer satisf...
    Little Rock, AR

Search 886 jobs >

Top Picks - Capture Arkansas
Arkansas Online