Saturday, September 1, 2012

About 1/2 Paid Out for ROBO Settlement Already

Seems like we are all hearing more and more success stories about Short-Sales completing, Loan Modifications working, and Principal Reductions being authorized. Don't yell at me! I know it's not happening for everyone, but it is happening, and for the ones that are eligible, it's happening a tad quicker.

Apparently to the tune of about 140,000 homeowners and 10.6 Billion dollars in the second quarter of this year. The 5 big banks that were part of the Robo-Signing Settlement ~ Bank of America, Chase, Ally, Wells Fargo, and Citi ~ have all been working hard to follow through on the terms of the settlement.

The largest category of relief so far, no surprise, is in Short-Sales. Tons of them happening, lots of short pay-offs. And, Bank of America is the one that has provided the most relief to the struggling homeowners.

California, my beautiful state, received the most money of any state, with about 4.6 billion in assistance.

I wonder though, what do you think will happen when the 25 billion settlement is fulfilled?

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