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VOL. 36 | NO. 34 | Friday, August 24, 2012
Tennessee homeowners benefit from mortgage settlement
NASHVILLE (AP) - A preliminary report shows Tennessee homeowners are benefiting from a settlement reached with the nation's top five mortgage servicers.
Tennessee and 48 other attorneys general and federal agencies reached the agreement with the servicers in April following a series of state and federal investigations into improper foreclosures and industry practices.
The settlement is designed to provide assistance to struggling homeowners.
The report released this week by a settlement monitor shows Tennessee homeowners received $36 million in relief during the first quarter of the settlement, which was from March through June.
The settlement is estimated to provide $25 billion in relief nationwide, including roughly $140 million in Tennessee.