Santa Barbara
78° F
Scattered Clouds
Scattered Clouds
Santa Maria
77° F
Mostly Cloudy
Mostly Cloudy
San Luis Obispo
83° F
Mostly Cloudy
Mostly Cloudy
Ventura
75° F
Clear
Clear

$8.5 Billion Dollar Banking Settlement Over Foreclosures

Published On: Jan 07 2013 06:00:00 AM CST
Updated On: Jan 29 2013 06:05:20 AM CST

A major banking settlement was announcement Monday morning linked to the nation's 2008 financial crisis. The Associated Press is reporting that ten major US banks have agreed to settle a foreclosure case for $8.5 billion dollars. Bank of America, Wells Fargo and Citigroup are among those who've agreed to settle for wrongfully ousting homeowners who should have been allowed to stay in their homes. In 2008, a record number of nearly 1,900 homes were foreclosed on in Northern Santa Barbara County. However, Santa Barbara County's Clerk-Recorder and Assessor Joe Holland says the numbers went even higher over the past four years. The Santa Maria Valley and Lompoc Valley were the areas hardest hit.

Comments

The views expressed are not those of this company or its affiliated companies. Please note by clicking on "Post" you acknowledge that you have read the Terms Of Service and the comment you are posting is in compliance with such terms. 
blog comments powered by Disqus