Friday, June 20, 2014

The Mortgage Relief Continues With SunTrust Bank Almost One Billion Dollar Settlement

Almost One Billion Dollars in relief? Wow, that's phenomenal! It reminded me of Dr. Evil:

Great article read just a few minutes ago that SunTrust will be paying out 968 million dollars in a mortgage settlement.

They are required to provide almost 1/2 of that in relief to underwater borrowers. 40 mill to about 50,000 homeowners that lost their homes and 10 mill to cover FHA, and other gov't insured, losses.

SunTrust also has to pay just over 400 mill to fix the mess of originating FHA loans that truly didn't match the requirements of FHA loans.

So, if you did, or do now, have a SunTrust home loan......just maybe you'll be part of this settlement!

No comments: