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AG Announces $70M to Help Those Hit by Foreclosure

sfgate.comJuly 17, 2013

CHICAGO (AP) — Attorney General Lisa Madigan says her office is distributing $70 million to help Illinois communities hardest hit by the national foreclosure crisis.

Madigan spoke at a news conference Wednesday in Chicago.

She says the $70 million comes from Illinois' share of a $25 billion national settlement with the country's five largest bank mortgage servicers. The banks were accused of fraudulent practices during foreclosure proceedings including "robo-signing." That means having employees sign papers they haven't read or using fake signatures to speed foreclosures.

Madigan says the $70 million is "a down payment" to help families, boost the housing market and stabilize communities.

An advisory council helped decide how to distribute the money. They recommended funding 54 proposals from organizations statewide.

 

Back to July 2013 Archive

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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