Subscribe Register Login

Sunday, April 20, 2014, 6:46 a.m.
Top Picks - Mobile App

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

  • Inspector for dry cl

    inspector need for dry cleaning/laundry. Must Apply in perso...
    NORTH LITTLE ROCK, AR

  • Cnc programmer/ lathe operator

    Immediate Need : Must be experience programming Mazaks and H...
    Bryant, AR

  • Cocktail server

    cocktail server & bar bussercajun's Wharf seeks experienced....
    LITTLE ROCK, AR

  • Teachers

    Positions Private Elem School Little Rock, AR.Seeking teache...
    LITTLE ROCK, AR

  • Therapists

    speech therapistsphysical therapistsoccupational therapistsl...
    LITTLE ROCK, AR

Search 1040 jobs >

Top Picks - Mobile App
Arkansas Online