600,000 Unclaimed Settlement Checks and other news


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see http://blogs.wsj.com/moneybeat/2015/02/18/who-will-claim-380-million-in-unspent-foreclosure-abuse-money/

So it seems that the people who lost their homes through illegal or improper foreclosure practices cannot be found. More than 600,000 checks ranging up to $125,000 have not been cashed and are in the process of being reissued. Recipients may still bring claims for damages or even title, state law permitting. The point is that the foreclosures and the assistance to avoid foreclosure were conducted with faulty premises and improper motive. So the banks agreed to pay money with no prejudice to the borrowers who lost their homes. The interesting thing is the banks themselves have come up with those situations in which their practices are wrong. That is potentially an admission against interest — a powerful weapon to use against the banks that have already “completed” foreclosures that were either void (rescission was sent) or voidable (no…

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About Here and Now

I rant about issues concerning foreclosure, real estate law and any topic of interest. Normally my day job is Fashion and Costume Design. I like writing and reading interesting subjects.
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