Homeowners who were unfairly persecuted by banks who claimed non-payment are now beginning to collect compensation for the foreclosures. But the compensation checks that have been mailed are pretty much insulting to a lot of the victims. From NBC News.com,
Pooley said she’s been fighting to save her home from foreclosure for the past three years. Believing that her servicer did not follow legal procedures, she said she has contested the foreclosure through her state’s foreclosure process, and managed to stop three foreclosure sales. She said she also has tried to get authorities to investigate.
Last month, she received her settlement payment, a check for $300.
“It was more than pathetic. It was insulting,” Pooley told NBC News. “I spent more in money on postage providing government agencies with detailed descriptions of what had happened in my case.
Military personnel who were foreclosed get the largest amounts from the settlement, but the remaining 2 million homeowners get between $300 and $500 each. That couple hundred bucks really is little comfort for people who have been unfairly displaced with their credit scores ruined.