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Tag Archives: Ally/GMAC

Fewer than 5,000 Mississippi foreclosed homeowners to get financial settlements

About 4,235 Mississippi homebuyers whose homes were foreclosed on may be eligible for cash payments under a national settlement reached with five giant banks for fraudulent foreclosure practices, Attorney General Jim Hood’s office said. The national foreclosure fraud settlement provides an estimated $47.1 million in direct relief to Mississippi homeowners and addresses future mortgage loan servicing practices, Hood said soon ...

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Some states to use foreclosure settlement money to patch budgets

Seeing a chance to plug budget holes in their states, three governors are laying claim to portions of a recent $25 billion mortgage foreclosure settlement to be paid by five of the nation’s largest banks. Where authority for use of the money rests is not entirely clear. Some media reports say U.S., Attorney General Eric Holder and the 49 attorneys ...

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