This settlement means for of the same for the New Year: “no accountability for financial institutions and little help for borrowers,” according to a NY Times op-ed.
3.8 million people whose homes were in foreclosure in 2009 and 2010 will receive $3.3 billion in cash, plus another $5.2 billion in other help.
If you qualify for both Chapter 7 and 13, look closely at how much you’d be helped by Chapter 13 before choosing Chapter 7 merely because it’s simpler.
More answers about how Chapter 13 gives you up to 5 years to catch up on your past-due mortgage.