ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 02/13/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 02/13/2012

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

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More than 40 states have signed on to a draft settlement with the nation’s largest banks aimed at helping homeowners struggling with loans bigger than the value of their homes. But several key states — including California, New York, Nevada, Florida and Delaware — remain undecided, sources familiar with the negotiations tell CNN.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

“The sign-on deadline for the proposed joint state-federal mortgage servicing settlement passed Monday with more than 40 states,” said Iowa Attorney General Thomas Miller, who has been leading negotiations that have spanned nearly a year. “This enables us to move forward into the very final stages of remaining work.”

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

Attorneys general from California, New York and Delaware, who have all been cold to the deal in past weeks, are still talking with negotiators and may yet signal their participation, according to sources familiar with the talks. Attorneys general from Florida and Nevada also have issues, but are still at the negotiating table.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

Federal officials and state attorneys general could announce — perhaps as early as this week — the deal with some of the nation’s largest banks that could yield up to $25 billion for qualified homeowners. That would be more than any housing relief program has produced since the financial crisis began.

In return, mortgage servicers in states that agree to the deal would get immunity from future state servicing and originating claims — although homeowners could pursue claims against banks and states could still pursue criminal investigations, according to reports.

Driving the deal originally were allegations that mortgage servicers cut corners and enlisted robo-signers that improperly foreclosed on homeowners. However, the deal under negotiation now wouldn’t be able to return houses to those who have already been foreclosed on, according to reports.

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