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California to receive up to $1.8 billion in mortgage relief agreement

Original post made on Feb 13, 2012

Bay Area homeowners who were victims of mortgage fraud could see relief soon thanks to a $25 billion agreement reached between the nation's five largest lenders, the federal government and 49 state attorneys general.

Read the full story here Web Link posted Monday, February 13, 2012, 7:20 AM

Comments (4)

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Posted by Steven
a resident of Pleasanton Meadows
on Feb 13, 2012 at 1:28 pm

The headline says $1.8 Billion for California....yet in the body of the article it says: "California Attorney General Kamala Harris said this morning that California will receive up to $18 billion as part of the settlement to penalize robo-signin"

Which one is true?

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Posted by Mittens
a resident of Another Pleasanton neighborhood
on Feb 13, 2012 at 1:52 pm

Well, ONE of them is true, and ONE of them isn't!

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Posted by Ray Narleski
a resident of Country Fair
on Feb 13, 2012 at 5:03 pm

Yeo Mittens, strikes me as being a rather severely conservative assessment if you ask me.

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Posted by steve
a resident of Parkside
on Feb 15, 2012 at 9:32 am

"President Obama, in remarks made this morning, said the settlement will "begin to turn the page on an era of recklessness that has left so much damage in its wake."
I have to agree with this statement (even though it's from obama). It is vaguely worded,so that it can be intepreted as recklessness on behalf of both the banks and the fools who signed loan documents without reading or understanding the terms.

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