More than a month ago, the federal government and 49 states announced a $25 billion settlement with the five biggest mortgage servicers to provide help to borrowers who lost their home in a foreclosure or who are having trouble making their mortgage payments.
Many details of the settlement are still being worked out. But the Center for Responsible Lending, a nonprofit group that advocates for borrowers, has published a summary and a preliminary guidebook to help consumers figure out if they may be eligible for help under the settlement.
The guide outlines general criteria to help determine if you may benefit from the settlement and offers tips for making sure you stay on top of any action you may need to take.
There are three main categories of borrowers who may be eligible: READ MORE OF THIS NEW YORK TIMES COLUMN…
About The Staten Island Board of REALTORS® (SIBOR)
The Staten Island Board of REALTORS® (SIBOR) is the largest not-for-profit trade association in Staten Island, N.Y.
SIBOR exists to enhance the ability and opportunity of its members to conduct their business successfully and ethically; and to promote the preservation of the public’s right to own, transfer and use real property.
Comprised of over 1,600 members, SIBOR serves real estate agents, brokers and affiliated professionals throughout the borough and surrounding areas.
SIBOR is the provider of the Staten Island Multiple Listing Service Inc. (SIMLS), which works as a clearinghouse through which more than 250 local real estate firms exchange information on properties they have listed for sale. Together, its members participate in over 3,000 real estate transactions every year.
All SIBOR members belong to the New York State Association of REALTORS® (NYSAR) and the National Association of REALTORS® (NAR).
SIBOR may be reached at 718-928-3220 and visited online at http://siborrealtors.com.
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