A total of 22,500 Virginia mortgage borrowers, whose homes have been unfairly foreclosed, will receive monetary settlement for damages, reports Carol Hazard of the Richmond Times Dispatch last June 12, 2013. Each debtor is to receive a check of $1,480 as settlement for damages. The payouts, which amount to $33 million in total, are meant to compensate for what Attorney General Ken Cuccinelli refers to as the lending abuses the affected homeowners have had to put up with. For instance, some homeowners weren't given enough options to circumvent foreclosure, while others found that important documents that could have helped refinance their troubled mortgages were conveniently lost. Nobody deserves to be chased out of their homes, which is why prospective property buyers may want to be extra cautious and deal only with a trustworthy Virginia mortgage broker who understands the ins and outs of the local market and can hook buyers up with established lenders.
http://virginia.churchillmortgage.com/industry-news/how-a-trusted-virginia-mortgage-broker-can-help-you-break-free-of-unfair-mortgage-bondage/
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