There are other things in life. I know, what a shocker, right?Ohio Homeowners To Get $103M In Loan Help
Bank Of America Settlement To Help Homeowners
POSTED: 11:31 am EDT October 6, 2008
UPDATED: 12:18 pm EDT October 6, 2008
SPRINGFIELD, Ill. -- Ohio homeowners with Countrywide mortgages will receive about $103 million in reduced interest and principal. That's Ohio's share of a more than $8 billion multistate settlement with Bank of America, which acquired Countrywide Financial and its troubled mortgages over the summer. Ohio Attorney General Nancy Rogers said Monday that the settlement should help about 8,000 Ohioans who are struggling to keep their homes. She notes that foreclosures have devastated Ohio communities and crippled the state's economy. Rogers said depending on the type of loan, up to one-half of all Countrywide subprime loans in the state are delinquent. Ohio is one of 11 states that are part of a settlement with the bank. Some borrowers stuck with Countrywide mortgages might qualify for having to pay nothing but interest for a decade. Even people who can't afford to keep their homes with such changes will be able to get help moving to a new one.
Link.
SPRINGFIELD, Ill. -- Ohio homeowners with Countrywide mortgages will receive about $103 million in reduced interest and principal. That's Ohio's share of a more than $8 billion multistate settlement with Bank of America, which acquired Countrywide Financial and its troubled mortgages over the summer. Ohio Attorney General Nancy Rogers said Monday that the settlement should help about 8,000 Ohioans who are struggling to keep their homes. She notes that foreclosures have devastated Ohio communities and crippled the state's economy. Rogers said depending on the type of loan, up to one-half of all Countrywide subprime loans in the state are delinquent. Ohio is one of 11 states that are part of a settlement with the bank. Some borrowers stuck with Countrywide mortgages might qualify for having to pay nothing but interest for a decade. Even people who can't afford to keep their homes with such changes will be able to get help moving to a new one.
Link.
No comments:
Post a Comment