Tag Archives: Ally Financial

Foreclosure fraud deal offers payments to displaced homeowners

February 9, 2012

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Up to two million Americans could benefit from mortgage relief from the nation’s biggest banks under a foreclosure fraud settlement of $25 billion announced Thursday. Mississippi and 48 other states signed on to the deal with Bank of America, Citigroup, JPMorgan Chase, Wells Fargo and Ally Financial. The only remaining holdout is Oklahoma. The deal […]

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UPDATE: DEAL IS DONE … Foreclosure settlement said gaining key state support

February 8, 2012

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WASHINGTON — U.S. states have reached a $25 billion deal with the nation’s biggest mortgage lenders over foreclosure abuses that occurred after the housing bubble burst. Federal and state officials announced the deal Thursday. It is the biggest settlement involving a single industry since a 1998 multistate tobacco deal. Under the agreement, five major banks […]

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