State and federal officials across the country have announced a $26 billion settlement to charges that major banks acted carelessly and fraudulently in foreclosing on millions of homeowners across the country. Nevada Attorney General Catherine Cortez Masto had been reluctant to join but did include Nevada at the very end of marathon negotiations. So what will this mean for homeowners? Who will get a slice of that big pie? And is it a big pie after all?
I have bought a house in 2006 for 220,000, a down payment of 22,000. I Have paid an average of 1.200,00/mo since then. We still owe the bank basically the same amount - 200,000. We were forced to do a short sale on the house for the actual value - less than 40,000. Why could'nt the bank had accepted this amount from us, instead of from somebody else? If the banks do not negotiate the principal, there is no real help.Ester Torres –Feb 10, 2012 09:44:07 AM