What you need to know about the National Mortgage Settlement
Forms being mailed to homeowners now
- Duration 3:33
- Date Oct 25, 2012
Forms being mailed to homeowners now
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Some of America's biggest -- helping homeowners rebuild their dreams -- only after they destroyed them in first place it's part of a 26 billion dollar settlement.
Between five lenders and 49 states -- -- legal analyst Bob Massi joins us now with which.
Know about the national mortgage fraud settlement is money coming more homeowners wait.
-- Well you know Brian we talked about this back in February this year there was a 25 billion dollar settlement as a result of the attorney general's in this country suing the lenders and for that they should be commended.
Yes -- 25 billion dollars it's really like petty cash because that nature Orleans but there's -- -- be -- distribution of some of this money in each state.
And that's when I -- at least alert our viewers -- as to what they can be looking for so how do you know if you're watching right now if you're eligible to get money -- money.
What happens Gretchen is they won't get those homeowners who were eligible -- -- be very candid with you I'm not really sure the protocols and the criteria.
How you become eligible what they send the form.
To you a letter to form that has an ID number on it.
It'll give you instructions specifically ask you how you fill out the form and that you said that back to the appropriate agency that they direct you to do.
And almost every American in this country can go on to the website of the state where they live.
To the attorney general's particular website and they have a complete explanation of this that you send it back.
And at some point you'll get a little bit of money back nothing compared to as you said Gretchen.
The people's dreams that were destroyed.
But it's a little something for Americans who were wrongfully foreclosed on to -- -- lookout for -- when this comes and other people said -- yeah I get that money for his -- go to them look out for that.
-- you know -- -- you and I both know this is chest an avenue for scams if anybody gets this letter.
That appears to be from an agency of the state.
And it says to you.
-- -- -- Said -- hundred dollars and and Phyllis -- not that is a scam and I really alert our viewers that all happened the people.
Don't do it this is free it doesn't cost a homeowner anything as soon as that happens reported to the attorney general's office -- that is in fact a scam.
But you say even though it's 26 billion dollars it's still a drop in the bucket because the average check the people are gonna get after losing their home -- 18100 -- Could you imagine can you imagine -- -- now let's remember this was -- -- Robles citing Gretchen the fraud that was perpetrated on homeowners in America.
That lost their home not making -- 18100 dollars up the 3000.
Which is nothing they don't lose the right to assume that the lenders but yes -- have the time and money to do it so yeah it's it's just really petty cash.
But it's something get I commend the attorney generals for doing something you saw Bob massive due -- get enough of Bob -- what do you do what do you do I'll give you an example which -- to do.
Next week Bob we have -- -- it says.
You're hitting the road again the rebuilding your dreams tour can you confirm this.
I -- day after Halloween -- wouldn't be in Fort Myers November 1 at the yacht club and those of you want to attend.
-- you go to rebuilding your dreams at foxnews.com.
It is free to the public.
Register will actually be airing again like we did that a Treasure Island.
From six to 9 AM eastern time we'll be taking your questions I'll be giving a seminar.
It's going to be fun to meet people I look forward rebuilding your dreams at foxnews.com.
All right I'm asking always great to see every week haven't thank you might have you --