If you have availed a defective residential mortgage loan from a certain bank, then you need to ask them of the remedy. It will be quite unfair on your part to pay for loans that you have not enjoyed so far. Hence, you hope that there will be another type of service to be given to victims like you. It is just essential for you to coordinate with your federal government and think about the possible settlement agreement. For sure, the federal government wants to protect your rights as a citizen, so it made an effort to reach out to the concerned bank to see the things that they failed to offer.
As a consumer, you deserve to know that you are part of the recipients of a $2.5 billion relief fund. If you need to avail of loan modification, then you should file your requirements ahead. You want to have a house very soon as you also plan to build your own family. If a loan modification is the only way to make things right, then you need to grab it. Aside from that, it is also possible that you will avail of affordable rental housing since the money is huge. A portion of that fund is to assist those low-income families who have difficulties acquiring their own houses.
If you want to know more about the settlement agreement, what you need to do is to visit the site. For sure, you will be happy to see that the settlement has been made because it is what you have been waiting for for a long time. For sure, your common attorneys must have worked for hand in hand to bring justice to you. Hence, the bank would really respond as they need to clean their name from all those lapses.
Once you reach the site, you will find a lot of files to be downloaded such as the agreement, statement of facts, annex 2, annex 3, and appendix 1. You need to keep a copy of all those files considering that you need to prove to the body that you are one of the recipients of the loan restructuring program. You also need to read some reviews made by the monitor. If you want to know how many people had availed the programs, the monitor shall tell all. You do not only expect him to provide one report as there will be other important reports to be revealed soon.
If you also want to witness how things are done, you can simply download some videos regarding their transactions with the banks. The site that you are going to open also has the FAQ. Hence, you can be able to know very well the terms being shared. You would love to learn more about what is meant by the settlement agreement. Aside from that, you would also like to know the benefits as well and who else could avail the relief. You also want to know how the monitor transacts the business because he is the one to tell the current status of the settlement.