4 Point Breakdown of Florida’s $8 Billion Housing Settlement

by Isaac Benmergui, Esq on April 5, 2012

If you’re wondering how Florida’s $8 billion portion of the $25 billion settlement with the nation’s five biggest banks will be allocated, Miami-based real estate attorney Isaac Benmergui reiterates the proposed breakdown from the Florida Attorney General’s office:

  • $4 billion will be used as settlement credits
  • $3.1 billion will go to homeowners who continue to struggle to make their monthly payments
  • $309 million will be used for underwater home loan refinancing
  • $171 million is for homeowner’s who lost their home to foreclosure which will further breakdown to $1,800 to $2,000 each.

If the banks fail to meet their obligations under the terms of the settlement, they will be penalized.

Getting Legal Help

If you feel you are owed money under the settlement and need help in securing payment, contact the law offices of Isaac Benmergui. Attorney Benmergui and his staff can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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