National Mortgage Settlement & Colorado Homeowners
…except Oklahoma) will each receive shares of a $2.5 billion fund established for housing and foreclosure relief programs, including housing counseling, legal assistance, foreclosure prevention hotlines, foreclosure mediation, and community blight remediation. What Other Changes Can Be Expected? Aside from the financial contributions, another major component of the National Mortgage Settlement is that lenders must broadly reform their loan servicing practices. These changes are aimed at preventing improper foreclosures by…