Foreclosure settlement yields $300 to $1,000 for most borrowers

04/9/2013 | Wall Street Journal, The

In the $9.3 billion settlement between regulators and banks accused of mortgage abuses that left some homeowners facing foreclosure, the payout to the majority of borrowers will be between $300 and $1,000. Some military service members, as well as 1,135 borrowers who were foreclosed on without having actually defaulted, will receive $125,000 each. Payments will begin going out Friday.

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Wall Street Journal, The

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