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Thursday, May 31, 2012

Md. Property Owners Get $60M in Aid for Mortgages

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.

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2 comments:

Anonymous said...

So we're in the hole but there's funding for this?When will people wake up?

Anonymous said...

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.