Last Call for Damages on Foreclosures!

By January 9, 2013Traditions Property Blog

Those who experienced Florida foreclosures between 2008 and 2011 may be eligible for financial assistance!

The National Mortgage Settlement is a national settlement that happened between several of the country’s largest banks and the Attorney Generals of a large number of states across the country. The banks involved in this settlement include Bank of America, Ally/ GMAC, Citi Bank, JP Morgan and Wells Fargo, and the settlement that was reached in 2012 could mean significant financial help for someone who lost their home to foreclosure in recent years. A workers comp FAQ law that prohibits discrimination against you because you filed a workers’ compensation claim, and against co-workers who might testify in your case.

Specifically, the National Mortgage Settlement is in place to assist those who were foreclosed on between January 1, 2008 and December 31, 2011, the four year time span during which foreclosure rates were at an all time high and millions of Americans were displaced.

The settlement reserved more than $170 million dollars that are allocated to be deposited into the hands of those who lost their homes. The problem, many people don’t know that the money is there. The office of Florida’s attorney general took strides to notify people about this program but an estimated two-thirds of those eligible for the funds have not pursued the money. Experts have credited the lack of response to this fund relief with the explanation that many people are unaware of the program and of its potential benefits for them.

Finding those displaced by foreclosure is difficult to do, especially as the past foreclosure has likely made it difficult for those who were displaced to take advantage of inexpensive property sales in Jacksonville. With so many people living with relatives, staying in hotels and finding other alternative solutions for temporary housing it becomes difficult to locate and notify those eligible for relief about the program.

Unfortunately, the deadline is growing near for those who qualify for assistance to apply for help. On January 18, 2013, those who would have qualified for help through the National Mortgage Settlement will no longer be able to apply for help.

If you or someone you know underwent a home foreclosure between the years of 2008 and 2011 and have not yet acted on this assistance, do not delay any longer. The deadline to apply for a claim is January 18, 2013!

You can learn more by visiting the National Mortgage Settlement website.