Roughly $25 billion in relief for distressed borrowers, states and federal government…

In February 2012, 49 state attorneys general and the federal government announced a historic joint state-federal settlement with the country’s five largest mortgage servicers:

 

 

 

  • Ally/GMAC
  • Bank of America
  • Citi
  • JPMorgan Chase
  • Wells Fargo

The settlement provides as much as $25 billion in relief to distressed borrowers and direct payments to states and the federal government. It’s the largest multi-state settlement since the Tobacco Settlement in 1998.

The agreement settles state and federal investigations finding that the country’s five largest mortgage servicers routinely signed foreclosure related documents outside the presence of a notary public and without really knowing whether the facts they contained were correct.  Both of these practices violate the law.  The settlement provides benefits to borrowers whose loans are owned by the settling banks as well as to many of the borrowers whose loans they service.

What does this mean for you?

For homeowners and those whose homes were foreclosed between January 1, 2008 and December 31, 2011, the deal means that you could receive a cash payment, a principal write down or refinancing with the money from the settlement, depending on your specific situation. If you received a letter in the mail, follow the instructions to register.  The deadline to  make your claim is January 18, 2013!

For more information and updates, please visit their official website.

 

For several years now, The Aladin Group has participated in the charity Blanketing Arizona, helping to give blankets, sleeping bags, necessities and food to Phoenix’s homeless on Christmas Eve morning.

Last year we were able to share over 1,600 blankets and sleeping bags, serve about 40 gallons of chili and disperse many other items to help make the holiday season a little brighter and warmer for the less fortunate in our city.

Giving back to our community is so important to us, and we invite you to join us in this worthy cause.  Volunteers are welcome, or you can donate any of the following items:

 

•           Blankets – (Only New Please)

•           Sleeping Bags (Only New)

•           Hygiene Items

•           Food, Canned Chili, Cheese, Fruit, other canned goods to give away

•           Sturdy disposable bowls

•           Plastic silverware

•           Cardboard serving trays (like McDonald’s cup holders)

•           Cases of bottled water

•           Snack size bags of chips

•           Toys – No batteries needed

•           Wind-up radios and wind-up flashlights

•           Dry Dog Food

•           Cash $$

Donations may be dropped off at our office:

11201 N Tatum Blvd. Suite 140 Phoenix, AZ 85028

Or call us for pick up!

 

Thank you in advance for your generosity!

 

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