Maryland homeowners hurt by foreclosure abuses, fraud, "robo-signing" and other improper mortgage servicing practices will soon get help from the state.
Attorney General Douglas Gansler tells WTOP he and Gov. Martin O'Malley will be allocating nearly $60 million in funding from the recent $26 billion National Mortgage Servicing Settlement with five major mortgage services.
Much of the money will go toward non-profit agencies that can directly help distressed homeowners.
More than $8 million will be dedicated to housing counselors throughout the state, "to help people navigate principal reductions, loan modifications and the origination and servicing of loans I to the future," says Gansler.
2 comments:
So we're in the hole but there's funding for this?When will people wake up?
People need to READ what is in the contract they're signing. Will Uncle Sam pay my mortgage, too? Nope, I read mine before I signed.
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