On February 9thth, the United States Justice Department released the details of a $25 billion dollar settlement they reached with 5 major banks. “The settlement occurred because the banks were accused of widespread use of “Robo-signing”.

Robo-signing is a practice employed by banks to automate the processing and approval of foreclosure proceedings against homeowners. “In many cases,” said Reynolds, “the banks were discovered to have processed thousands of foreclosures in a single day, all signed by one person.”

Linda Reynolds, a Certified Distressed Property Expert (CDPE), believes that the settlement presents a unique opportunity for homeowners who are in danger of losing their home. “The reality is, the banks would rather explore other options than foreclosure and this settlement gives them both the motivation as well as the funding to explore them,” said Reynolds.

Although the settlement is the largest government industry settlement since the $250 billion Big Tobacco settlement in 1998, there has been opposition on the grounds that the settlement does not go far enough to alleviate the $750 billion in negative equity in the country.

When families are tapped out financially and faced with the uncertainty of not knowing how much longer they’ll be able to stay in their home, the prospect of planning or having a positive outlook on the future seems out of the question.

Many financially strapped homeowners feel frozen in action and it’s no wonder, but here’s the most important point that you need to know:

Even though millions of homes have been lost to foreclosure, you and those you care about absolutely do not need to add to that statistic.

More help is available now than ever before.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I am adept at navigating among the full range of solutions for helping financially distressed homeowners to make a fresh start.

If you, or someone you care about is looking to get out from under the cloud of unmanageable mortgage contact me today for a confidential consultation!

Linda Reynolds, Broker, CDPE, GRI, e-Pro, CAM
941-737-6562 or 813-944-2908

To find out more go here:
Living Under the Cloud of an Unmanageable Mortgage