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Showing posts with label HOME FORECLOSURES. Show all posts
Showing posts with label HOME FORECLOSURES. Show all posts
Friday, May 10, 2013
Thursday, May 2, 2013
ESOP: DESPITE SLIGHT DECLINE OHIO FORECLOSURES STILL HIGH
For Immediate Release
May 2, 2013
Contact:
Deonna Kirkpatrick
(216) 361-0718
dkirkpatrick@esop-cleveland.
Despite Slight Decline Ohio Foreclosures Still High
CLEVELAND, OH – Today the Ohio Supreme Court released foreclosure numbers for 2012 and even though there has been a slight decrease in the overall number of foreclosures there is still a serious foreclosure crisis in Ohio.
The number of Ohio foreclosure case filings decreased in 2012 by 1.5 percent. That’s about 1,000 fewer cases than in 2011. But there were still 70,469 new residential, commercial, and tax foreclosure case filings in 2012.
“There is still a lot of work to be done to help Ohio homeowners,” said Roslyn Quarto, ESOP’s Executive Director. “We are not surprised by the foreclosure numbers released today. It matches up with what we’re seeing at our offices all over the state.”
ESOP foreclosure prevention advocates are swamped every week with people who need help. Many of the people we’re seeing have suffered a loss of income. Companies making layoffs or cutting back workers’ hours are still putting a crunch on family budgets.
Today’s numbers underscore the need for continued funding of foreclosure prevention counseling and relief programs that help keep families in their homes and stabilize communities. “Now is not the time to slash funding for housing counseling," said Quarto. "As legislators prepare the budget for next year it is critical that they recognize the important work of housing counselors as an investment in financially stable families and communities and an essential part of fueling the housing recovery.”
The number of Ohio foreclosure case filings decreased in 2012 by 1.5 percent. That’s about 1,000 fewer cases than in 2011. But there were still 70,469 new residential, commercial, and tax foreclosure case filings in 2012.
“There is still a lot of work to be done to help Ohio homeowners,” said Roslyn Quarto, ESOP’s Executive Director. “We are not surprised by the foreclosure numbers released today. It matches up with what we’re seeing at our offices all over the state.”
ESOP foreclosure prevention advocates are swamped every week with people who need help. Many of the people we’re seeing have suffered a loss of income. Companies making layoffs or cutting back workers’ hours are still putting a crunch on family budgets.
Today’s numbers underscore the need for continued funding of foreclosure prevention counseling and relief programs that help keep families in their homes and stabilize communities. “Now is not the time to slash funding for housing counseling," said Quarto. "As legislators prepare the budget for next year it is critical that they recognize the important work of housing counselors as an investment in financially stable families and communities and an essential part of fueling the housing recovery.”
Link:
###
ESOP is a HUD-approved foreclosure prevention counseling agency. We have nine offices across Ohio to help urban, suburban and rural homeowners. ESOP has been on the frontlines of the predatory lending and foreclosure epidemic since 1999, combining community organizing, foreclosure prevention and advocacy.
ESOP is a HUD-approved foreclosure prevention counseling agency. We have nine offices across Ohio to help urban, suburban and rural homeowners. ESOP has been on the frontlines of the predatory lending and foreclosure epidemic since 1999, combining community organizing, foreclosure prevention and advocacy.
ESOP: WATT NOMINATION A GOOD SIGN, BUT HOMEOWNERS NEED RELIEF NOW
For Immediate Release
May 2, 2013
Contact:
Deonna Kirkpatrick
(216) 361-0718
dkirkpatrick@esop-cleveland.
Watt Nomination a Good Sign, But Homeowners Need Relief Now
CLEVELAND, OH – President Obama’s nomination of Congressman Mel Watt for Director of the Federal Housing Finance Agency is a welcome sign of the administration’s commitment to dealing with the lingering devastation of the housing crisis. Empowering and Strengthening Ohio’s People urges the Senate to move quickly to confirm Representative Watt. While this nomination moves through the Senate we also ask the White House to immediately name a new Acting Director to help homeowners who continue to struggle with underwater mortgages and a sluggish housing recovery.
The current Acting Director Edward DeMarco has repeatedly declined to use all of the effective options available to help homeowners recover from the housing crisis. He has refused to allow mortgage principal correction despite his own agency’s evidence that a principal correction program would keep families in their homes while saving taxpayers money.
ESOP is optimistic that Representative Watt will show real leadership to help keep families in their homes, ensure fair lending and servicing practices, boost the housing recovery and chart a course for the appropriate role of Fannie Mae and Freddie Mac in housing finance.
Every day that DeMarco remains in his position the FHFA puts more families at risk of foreclosure and delays the housing recovery. If DeMarco won’t act then we call on the Senate and the White House to act quickly to replace him with someone who will.
###
ESOP is a HUD-approved foreclosure prevention counseling agency. We have eight offices across Ohio to help urban, suburban and rural homeowners. ESOP has been on the frontlines of the predatory lending and foreclosure epidemic since 1999, combining community organizing, foreclosure prevention and advocacy.
ESOP is a HUD-approved foreclosure prevention counseling agency. We have eight offices across Ohio to help urban, suburban and rural homeowners. ESOP has been on the frontlines of the predatory lending and foreclosure epidemic since 1999, combining community organizing, foreclosure prevention and advocacy.
Monday, April 29, 2013
ESOP ANNOUNCES NEW EXECUTIVE DIRECTOR
| For Immediate Release |
Contact
|
| April 29, 2013 |
Deonna Kirkpatrick
|
|
(216) 361-0718
| |
| dkirkpatrick@esop-cleveland.org |
ESOP Announces New Executive Director
Roslyn Quarto brings vast experience
in low-income housing, real estate law and government
advocacy.
CLEVELAND, OH – As Empowering and
Strengthening Ohio’s People enters its 20th year the Board of
Trustees has hired Roslyn
“Roz” Quarto to lead the agency as its new Executive
Director.
“I'm thrilled to join ESOP at this pivotal time,” says Quarto. “With the help of the great staff and Board that Mark has assembled, I plan to build on the tremendous successes of the past while seeking future growth for the organization for the benefit of all Ohioans as we continue to stabilize and strengthen our communities.”
Quarto was selected from more than 100 applicants and brings vast experience in low-income housing, real estate law and government advocacy to the position. Roz is currently getting to know all of ESOP’s key processes, stakeholders, and partners. She will officially take the helm on Monday, May 20th.
“Roz brings a wealth of energy and skills to this position and can only take ESOP to higher places,” said Mark Seifert, ESOP’s current Executive Director. Mark’s last day will be May 17th.
"As the Executive Director Mark has clearly positioned ESOP as a leader in foreclosure prevention, counseling, and organizing,” said Barbara Anderson, ESOP’s Board President. “It is on this strong foundation that we will continue to build. I believe that we have selected someone who will expand upon the organization's strengths and create new opportunities for partnerships."
Roz was instrumental in bringing the Gay Games to Cleveland in 2014. As part of the selection process she made several trips to Cleveland and fell in love with the city. She relocated here from New York City last fall.
Some of Roz’s professional highlights include:
Juris Doctor from St. John’s University School of Law
Associate Executive Director of Urban Homestead Assistance Board, New York, New York: In this not-for-profit position, Roz was dedicated to transforming renters into homeowners who ultimately managed and developed their own buildings. She helped 20,000 tenants-to-owners preserve over 1000 buildings.
Director of Operations: “New York in 94, Inc.”: In this not-for-profit, Roz was responsible for developing and managing an international event dedicated to promote Gay Rights through sports. This event included 11,000 athletes from 45 countries, participating in 31 sports throughout all five boroughs of New York City.
Director – Mayor’s Office of Single Room Only (SRO) Housing and Development: In this role, Roz was responsible for administering a $25 million dollar budget dedicated to coordinating, monitoring, and administering New York City’s SRO development, including the preservation and improvement of housing programs for homeless families and people with HIV/AIDS housed in SROs.
Assistant Commissioner for Homeless Housing and Development: This is the largest municipal developer of affordable housing in the United States, providing over $50 million dollars annually to support the repair, rehabilitation, and new construction of housing units in New York City. In this role, she had management oversight of over 100 employees, a $30 million dollar budget, and 15,000 homeless housing units.
Deputy Executive Director – New York City Sports Commission: Roz planned, managed, and led the operations of several large-scale sporting events throughout all five boroughs of New York City, including the New York City Inner City Games. This was an annual sports festival for 10,000 inner city children in eight sports.
Managing Partner – Quarto, Lopez, LLP: Quarto, Lopez, LLP was a general law practice with a concentration on real estate and not-for-profit law. Clients included national banks and low-income not-for-profit organizations.
Roz is also a member of the Greater Cleveland Steering Committee of the Human Rights Campaign. She is a founding member of The Center Community Mediations Services/Project Resolve.
###
ESOP is a HUD-approved foreclosure prevention counseling agency. We have nine offices across Ohio to help urban, suburban and rural homeowners. ESOP has been on the frontlines of the predatory lending and foreclosure epidemic since 1999, combining community organizing, foreclosure prevention and advocacy.
“I'm thrilled to join ESOP at this pivotal time,” says Quarto. “With the help of the great staff and Board that Mark has assembled, I plan to build on the tremendous successes of the past while seeking future growth for the organization for the benefit of all Ohioans as we continue to stabilize and strengthen our communities.”
Quarto was selected from more than 100 applicants and brings vast experience in low-income housing, real estate law and government advocacy to the position. Roz is currently getting to know all of ESOP’s key processes, stakeholders, and partners. She will officially take the helm on Monday, May 20th.
“Roz brings a wealth of energy and skills to this position and can only take ESOP to higher places,” said Mark Seifert, ESOP’s current Executive Director. Mark’s last day will be May 17th.
"As the Executive Director Mark has clearly positioned ESOP as a leader in foreclosure prevention, counseling, and organizing,” said Barbara Anderson, ESOP’s Board President. “It is on this strong foundation that we will continue to build. I believe that we have selected someone who will expand upon the organization's strengths and create new opportunities for partnerships."
Roz was instrumental in bringing the Gay Games to Cleveland in 2014. As part of the selection process she made several trips to Cleveland and fell in love with the city. She relocated here from New York City last fall.
Some of Roz’s professional highlights include:
Juris Doctor from St. John’s University School of Law
Associate Executive Director of Urban Homestead Assistance Board, New York, New York: In this not-for-profit position, Roz was dedicated to transforming renters into homeowners who ultimately managed and developed their own buildings. She helped 20,000 tenants-to-owners preserve over 1000 buildings.
Director of Operations: “New York in 94, Inc.”: In this not-for-profit, Roz was responsible for developing and managing an international event dedicated to promote Gay Rights through sports. This event included 11,000 athletes from 45 countries, participating in 31 sports throughout all five boroughs of New York City.
Director – Mayor’s Office of Single Room Only (SRO) Housing and Development: In this role, Roz was responsible for administering a $25 million dollar budget dedicated to coordinating, monitoring, and administering New York City’s SRO development, including the preservation and improvement of housing programs for homeless families and people with HIV/AIDS housed in SROs.
Assistant Commissioner for Homeless Housing and Development: This is the largest municipal developer of affordable housing in the United States, providing over $50 million dollars annually to support the repair, rehabilitation, and new construction of housing units in New York City. In this role, she had management oversight of over 100 employees, a $30 million dollar budget, and 15,000 homeless housing units.
Deputy Executive Director – New York City Sports Commission: Roz planned, managed, and led the operations of several large-scale sporting events throughout all five boroughs of New York City, including the New York City Inner City Games. This was an annual sports festival for 10,000 inner city children in eight sports.
Managing Partner – Quarto, Lopez, LLP: Quarto, Lopez, LLP was a general law practice with a concentration on real estate and not-for-profit law. Clients included national banks and low-income not-for-profit organizations.
Roz is also a member of the Greater Cleveland Steering Committee of the Human Rights Campaign. She is a founding member of The Center Community Mediations Services/Project Resolve.
###
ESOP is a HUD-approved foreclosure prevention counseling agency. We have nine offices across Ohio to help urban, suburban and rural homeowners. ESOP has been on the frontlines of the predatory lending and foreclosure epidemic since 1999, combining community organizing, foreclosure prevention and advocacy.
Monday, April 1, 2013
THIS IS YOUR REALITY MAPLE HEIGHTS. WAKE THE HELL UP!
Sunday I read an article by Dave Davis and Rich Exner that was most revealing, but didn't really surprise me.
Foreclosure crisis left a legacy of blight. / online the title is: More than 17,000 Northeast Ohio homes aren't receiving water and appear to be vacant
They described Maple Heights, Euclid, Garfield Heights and Warrensville Heights as those communities hardest hit by the foreclosure crisis. These cities (with the exception of maybe Garfield Hts) are also largely populated by African Americans.
While local politicians go about the business of outsourcing everything they can get their hands on (and then some), the cities they represent are dying and nobody wants to talk about it. Are politicians afraid they won't get re-elected, or you'll cut their salary and benefits, if the "cat is out of the bag"?
I said it before, and I'll say it again. "We all know, or should know, that when money circulates within a community/city, that community or city thrives."
I also said, "If your city (community) leaders are not laser focused on making
sure you (and all the residents) personally make money,
keep that money, and grow that money, then the
leadership needs to go.
If your leaders are not laser focused on making residents owners, and talking ownership constantly, then the leadership needs to go."
"What does ownership mean? It means you own your home. It means you own your own business. It means you’re part owner in a co-op and credit union. It means you have a significant voice in the decisions that are made about the community (city) you live in, and the policies and legislation that are enacted in the city you live in, which also includes total transparency in public information about your city."
and I said " If your mayor and members of council are not laser focused on making sure you have
ownership, that you keep ownership, that they will do everything within their power to help you
maintain ownership, and that they will help protect what you own,
then they need to go."
I ended by saying:
"Beware:
Any city or community that is deep in debt, and where the majority of the public employees live outside the city, is devastating to that community. It means that a large chunk of your money is leaving your city when it should be circulating within your city so your community/your city thrives, and you thrive." and I gave examples of how a city thrives. [This also holds true when talking about outsourcing contractors.]
Any city or community that is deep in debt, and where the majority of the public employees live outside the city, is devastating to that community. It means that a large chunk of your money is leaving your city when it should be circulating within your city so your community/your city thrives, and you thrive." and I gave examples of how a city thrives. [This also holds true when talking about outsourcing contractors.]
And yet, the vast majority of residents in Maple Heights, and a majority in many other cities (esp. cities where African Americans are in the majority), keep silent and watch their city slowly dry up. Hell, most of the residents black and white need to wake the hell up and take control of your city (and I'm not talking about rioting and breaking the law). In my opinion, your city is being sucked dry.
And you local politicians (and all politicians), you are not helping the people you are supposed to represent (the people who pay your salary and benefits), when you won't let them know what's really going on.
Related:
MAPLE HEIGHTS LEADERSHIP NEEDS TO GO
Tuesday, January 22, 2013
UNHAPPY WITH THE LEADERSHIP IN MAPLE HEIGHTS GOVERNMENT
I received a letter dropped in my mail slot on either Saturday, 2/9/2013, or Sunday, 2/10/2013, dated February 4, 2013, with a neopost stamp of 2/6/2013. The letter was from Blair Melling, assistant law director of Maple Heights (You can see it at the bottom of the request page).
This post was about Blair Melling and not Brian Melling; however, I used the name Brian instead of Blair by mistake. Anyone reading the post however, would know that the names were mixed up because there is no Brian Melling who works for Maple Heights. [I did the same thing on a second request, although the original request had Mr. Blair Melling's name spelled correctly.]
Furthermore, if the reader had clicked on the link that was provided, it would have taken them to the Maple Heights website, and the law department which clearly shows the name Blair Melling.
Since there are more than 1 Brian Melling on the Internet, I was a little miffed that Mr. Blair Melling zoomed in on one particular Brian Melling. [However, I suspect, if you knew the details of events unfolding in Maple Heights, you could guess why Mr. Blair Melling chose to reference a particular Brian Melling]
I made no reference to any judges or any other city but Maple Heights, yet Mr. Blair Melling, decided to connect a Bedford judge with this post.
Mr. Blair Melling should have been able to connect the dots and know this post was about him, because it referenced W2 requests which (on several occasions) Mr. Blair Melling has said he will not provide (thus, one of the reasons for the post).
Some of the African American residents in Maple Heights are disappointed with the leadership in Maple Heights government, especially in regards to transparency and treatment of African Americans. See Requests I suspect, if others were as engaged with what goes on in Maple Heights government as some of us are, more would be upset and disappointed.
This post was about Blair Melling and not Brian Melling; however, I used the name Brian instead of Blair by mistake. Anyone reading the post however, would know that the names were mixed up because there is no Brian Melling who works for Maple Heights. [I did the same thing on a second request, although the original request had Mr. Blair Melling's name spelled correctly.]
Furthermore, if the reader had clicked on the link that was provided, it would have taken them to the Maple Heights website, and the law department which clearly shows the name Blair Melling.
Since there are more than 1 Brian Melling on the Internet, I was a little miffed that Mr. Blair Melling zoomed in on one particular Brian Melling. [However, I suspect, if you knew the details of events unfolding in Maple Heights, you could guess why Mr. Blair Melling chose to reference a particular Brian Melling]
I made no reference to any judges or any other city but Maple Heights, yet Mr. Blair Melling, decided to connect a Bedford judge with this post.
Mr. Blair Melling should have been able to connect the dots and know this post was about him, because it referenced W2 requests which (on several occasions) Mr. Blair Melling has said he will not provide (thus, one of the reasons for the post).
Some of the African American residents in Maple Heights are disappointed with the leadership in Maple Heights government, especially in regards to transparency and treatment of African Americans. See Requests I suspect, if others were as engaged with what goes on in Maple Heights government as some of us are, more would be upset and disappointed.
Maple Heights is suffering financially as are many of its residents. As some of you may not know, there were over 550 home foreclosure filings in Maple Heights last year. [Verified by ESOP - and I have documents] We also had one of the worst declines in market and assessed values of our homes in Maple Heights. [That's why there are related links referenced below.]
Note: 2 comments were removed to avoid further assumptions by Blair Melling; however, under the "terms and conditions" of this site, there was no obligation to do so. The site was created (by a group) for African Americans to have a voice (a voice that they feel has been silenced in Maple Hts). African Americans, or any one using the site, are free to comment w/o having to worry about censorship. (Which is one reason why you can post, comment, and give opinions anonymously).
Please do read Mr. Blair Melling's letter posted at the bottom of the request page, because I find it disconcerting that he felt compelled to protect the reputation of someone who does not live in Maple Heights or work in Maple Heights government.
I also find it interesting that it appears (in my opinion) Mr. Blair Melling is more interested in protecting politicians and political appointees, than investigating, when allegations and complaints are made about those same people. Furthermore, are we paying him to "protect politicians"?
Maybe he'll say investigating allegations and complaints are not his job; and if it isn't his job, whose job is it?
I personally feel, if Mr. Blair Melling is so interested in protecting the reputations of a non resident and non Maple Heights public employee, and the mayor and Mr. Montello, maybe they should be paying him instead of us.
While Mr. Blair Melling is monitoring this site (which thanks to him and others has increased the number of readers), we will be monitoring him and the rest of the politicians and other public employees in Maple Heights (especially the leadership).
If this site is being targeted for political reasons, or to harass the people who use this site, or to cover up wrong doing, those parties will be exposed.
I reserve the right to edit.
E. Stone
Related:
FORECLOSURES / PRE-FORECLOSURES / BANKRUPTCIES
2007, State of Ohio, Office of the Attorney General - OPINION NO. 2007-026, see page 4
Appendix C 1992-005: A copy of a federal tax form W-2 prepared and maintained by a township as an employer is subject to inspection as a public record. [Ohio Attorney General Opinions Interpreting Ohio's Public Records Act]
Mortgage fraud ringleader sentenced to 3-1/2 years in federal prison (August 2012)
Cuyahoga County cities brace for property tax losses (July 2012)
Maple Heights: Lansky names directors ( this was December 24, 2007) - also noted: an issue with diversity
Related:
FORECLOSURES / PRE-FORECLOSURES / BANKRUPTCIES
2007, State of Ohio, Office of the Attorney General - OPINION NO. 2007-026, see page 4
Appendix C 1992-005: A copy of a federal tax form W-2 prepared and maintained by a township as an employer is subject to inspection as a public record. [Ohio Attorney General Opinions Interpreting Ohio's Public Records Act]
Mortgage fraud ringleader sentenced to 3-1/2 years in federal prison (August 2012)
Cuyahoga County cities brace for property tax losses (July 2012)
Maple Heights: Lansky names directors ( this was December 24, 2007) - also noted: an issue with diversity
Monday, December 24, 2012
INDEPENDENT FORECLOSURE REVIEW
Empowering and Strengthening Ohio's People
3631 Perkins Avenue, Cleveland, OH 44114-4705
877-731-3767, 216.361.0718, Fax: 216.361.0920
3631 Perkins Avenue, Cleveland, OH 44114-4705
877-731-3767, 216.361.0718, Fax: 216.361.0920
Do
you believe foreclosure errors cost you money?
| |||
| |||
|
* Any payments made to you if errors in your
foreclosure are found may be reported to the IRS and may have tax implications.
Consult a tax advisor to discuss those implications.
If you are
currently represented by an attorney at law with respect to a foreclosure or
bankruptcy case regarding your mortgage, please refer this email to your
attorney.
|
Friday, December 14, 2012
WHO IS BUYING FORECLOSED HOMES AND WHY IT'S A PROBLEM
"Who's Buying Foreclosed Homes and Why It's a Problem
by Nate Berg (October 13, 2011)
Foreclosed homes tend to be problems for cities. They sit there, empty, unkempt, just asking for someone to break in. What they need and what governments at basically every level want is someone to buy them. Own them. Love them. Live in them.
So when a foreclosed property gets sold, the problem’s solved, right? Well, not exactly. According to a new study published in the Journal of Planning Education and Research, property sales don’t lead to solutions because often the people buying foreclosed properties from banks are also investors looking to resell the property. But these predominantly small-time investors typically have fewer resources to spend on maintaining their homes as they sit on the market and wait for new buyers.
“A lot of them are being sold to an investor and staying vacant,” says Dan Immergluck, an urban planning professor at the Georgia Institute of Technology and the author of the study. “You have the same problem as before.”
READ THE ENTIRE HERE
NOTE: A COMPANY CALLED CORELOGIC IS LISTED ON THE PROPERTY TAX RECORDS [WHERE THE PERSON WHO IS RESPONSIBLE FOR PAYING TAXES IS LISTED] OF MILLIONS OF HOMES THROUGHOUT COUNTIES IN OHIO AND ACROSS THE UNITED STATES. WHO IS CORELOGIC? WHAT IS THE RELATIONSHIP BETWEEN MAPLE HEIGHTS GOVERNMENT AND CORELOGIC? CLICK NUMBERS BELOW FOR SOME INFORMATION
12
3
Update on Corelogic:
The Illogic of CoreLogic, August 26, 2012
Tuesday, November 20, 2012
HOME FORECLOSURE OUTREACH EVENT
Update:
The event below is cancelled because Councilman Richard Trojanski will be holding a Home Foreclosure Outreach event on February 2, 2013 from 11 am to 2pm (Maple Hts Library, Auditorium A)
--------------------------------------------------------------------------------
THE "MAPLE HEIGHTS CITIZENS FOR CHANGE"
HOME FORECLOSURES AND VACANT HOMES (EX. 2012 THERE WERE OVER 550 FORECLOSURE FILINGS IN MAPLE HEIGHTS)
LEARN ABOUT HOME FORECLOSURES AND VACANT BUILDINGS IN MAPLE HEIGHTS
ALSO
GET HELP IF YOU ARE:
IN FORECLOSURE
FACING FORECLOSURE
WANT TO AVOID FORECLOSURE
WHEN: TUESDAY, JANUARY 22, 2013
WHERE: MAPLE HTS LIBRARY, MAPLE HTS, OH
TIME: 7:30PM TO 9PM
OPEN TO THE PUBLIC
Discussions for future meetings:
INDEPENDENT CIVILIAN REVIEW BOARD
FINANCIAL ACCOUNTABILITY
OWNERSHIP MONEY CIRCULATION PRINCIPLE
SYSTEMIC RACISM IN MAPLE HEIGHTS GOVERNMENT
LACK OF TRANSPARENCY IN MAPLE HEIGHTS GOV'T
LEGAL REMEDIES
Thursday, October 11, 2012
FORECLOSED BORROWERS TO GET SETTLEMENT CASH
By Chelsey Levingston
"More than 64,000 Ohioans will receive letters this fall stating they may be eligible for payments of at least $840 from the National Mortgage Settlement.
The Ohio Attorney General’s Office and the National Mortgage Settlement Administrator are mailing the letters through Friday to those who lost their homes to foreclosure between 2008 to 2011 through actions by five of the nation’s biggest banks — Ally, Bank of America, Citi, JPMorgan Chase and Wells Fargo.
The settlement stems from the so-called robo-signing scandal that erupted in 2010, where these five banks were accused of shoddy mortgage paperwork. The money comes from the $25 billion joint state-federal settlement reached this year with the banks.
Ohio’s share of the settlement is $335 million, which includes money to help “underwater” and delinquent homeowners, people who were victims of bad foreclosure practices, and for foreclosure prevention. More than $200 million of that is to go out directly to people “who either lost their home or to people who have been hurt by this or are upside down in their mortgage,” said Ohio Attorney General Mike DeWine.
The payments will not make anyone rich or help them get back their house, DeWine said.
“This is a little compensation. It’s certainly better than not getting it,” he said. “We encourage people to apply, but it’s not going to make them whole.”
Eligible foreclosed borrowers will receive a minimum $840. They could receive more depending on how many people submit claims, said Dan Tierney, spokesman for the attorney general’s office."
READ THE REST OF THE ARTICLE HERE
PLAIN DEALER, OCTOBER 10, 2012
DAYTON DAILY NEWS, OCTOBER 11, 2012
PEOPLE WHO BELIEVE THEY'RE ELIGIBLE FOR A PAYMENT AND HAVEN'T RECEIVED A CLAIM FORM, CALL: 866.430.8358
see related:
"Matt Taibbi & William Black on Bailout Secrets & How New Foreclosure Deal Spares Banks from Justice" .. Democracy Now, January 11, 2013
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