NH to Join Settlement Over Foreclosure Abuses

New Hampshire Attorney General Michael Delaney and Commissioner Ronald A. Wilbur of the New Hampshire Banking Department will be holding a press briefing this afternoon at 1:00 p.m.,  regarding the recently announced $25 billion state/federal mortgage servicing settlement.  The briefing will include a detailed explanation of the proposed terms of the settlement and New Hampshire’s decision to join.

The nationwide settlement stems from abuses that occurred after the housing bubble burst. Many companies that process foreclosures failed to verify documents. Some employees signed papers they hadn’t read or used fake signatures to speed foreclosures — an action known as robo-signing.

The deal would be the biggest involving a single industry since a 1998 multistate tobacco deal. It would force the five largest mortgage lenders to reduce loans for about 1 million households.

Read the entire story by Julie Smidt, in USA Today

If you believe your home was illegally foreclosed on, the Lawyer Referral Service of the NH Bar Association can help by referring you to a competent attorney who specifically handles this type of legal matter.  Call 603-229-0002 or request an online referral.

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