After more than a year of negotiating, a settlement has been reached by banks, states attorneys general and federal officials. This settlement will provide $26 billion for "direct relief to borrowers" and "loan-modification and assistance" (RIS Media). Although this may be helpful to many homeowners who were are are in crisis, it is not a complete solution. Oklahoma State Attorney General, Scott Pruitt, opted to settle with mortgage companies separately after "voicing strong concerns that the settlement greatly overreached the authority of state attorneys general and warned the terms created questions of fundamental fairness and justice by rewarding homeowners who stopped paying their mortgages over families who continued to make payments even if they were underwater on their loans"(OAG Press Release 2-9-12).
For more information on the federal mortgage settlement, visit www.darrylbaskin.com or the Oklahoma mortgage settlement, visit www.oag.state.ok.us.
For all your Tulsa area real estate needs, contact us, The Baskin Real Estate Specialists, at 918-258-2600 or www.darrylbaskin.com.
For Tulsa, OK. area mortgages, contact Karen Heston, BOK Mortgage, 918-230-9432 or kheston-boklo.mortgagewebcenter.com
Monday, February 27, 2012
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