Thursday, federal and state officials reached $26 billion settlement with five of the nation's biggest lenders accused of mortgage abuse.
The settlement gives those on the verge of losing their homes more options to lower their payments. A local realtor says he thinks the move will help speed up the recovery of our real estate market.
"If this settlement can help people stay in their homes, valuations should stabilize and gain some traction down the road. Because the less foreclosures in the
The money likely won't be available for another four months. However, state leaders say you should begin inquiring about it now so you'll be in position to take advantage of the benefits when the money kicks in.