Parties Weigh in on Where The Money Should Go

April 4, 2012 – (RealEstateRama) — On March, 12, 2012, the final negotiated agreements between the states, the federal government and Bank of America, Citi, JP Morgan Chase, Ally/GMAC, and Wells Forgo were filed with the Court. In addition to requiring changes in the way the banks service their loans, the settlement provides approximately $25 billion for loan modifications, refinancing, payments to people who lost their homes to foreclosure, and direct payments to the states.