Washington, D.C.–(ENEWSPF)–January 7, 2013. Federal regulators announced today a settlement with 10 banks over abusive foreclosure practices. The settlement includes more than $8.5 billion in total assistance to homeowners, including $3.3 billion in direct payments to borrowers affected by unlawful mortgage-servicing practices. Eligible families will receive anywhere from between hundreds of dollars to $125,000, depending on their situation. This is in addition to last February’s historic $25 billion settlement between the five largest mortgage servicers and 49 state attorney generals over the so-called “robo-signing” scandal.
