There has been a lot of effort on the part of the government and from various agencies to breathe life back into the economy and one such method has been to focus on the real estate market and recently a settlement reached in many states regarding fraudulent foreclosure practices has resulted in a significant amount of money that will be earmarked for helping to repair the current real estate markets of some of the hardest hit states such as Florida which stands to gain over eight billion dollars to put toward enhancing and repairing the current housing market.
There is the expectation that area such as the Watercolor real estate will benefit by default because of the overall improvement in health of surrounding real estate areas once certain mortgage holders are assisted and settlements are offered to individuals who had been targeted by fraudulent foreclosure practices. Some home owners who lost their homes due to the fraudulent behavior will get somewhere between one and two thousand dollars in settlement. Other people who currently live where they are in an underwater mortgage might see up to twenty thousand dollars in assistance given to ease their situation.
Some of the reasons why these government led settlements have been occurring is because of the number of mortgages that were signed fraudulently simply to get more money and some of the banks involved have been big name players including Bank of America and JP Morgan Chase along with Citibank, Wells Fargo and Ally Financial as the biggest players.
Source: http://www.factorygirlmovie.net/real-estate/real-estate-and-settlements/
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