Attorney General Reminds Tennessean Homeowners Mortgage Help Is Still Available

Monday, November 19, 2012

Tennessee homeowners are continuing to reap substantial benefits under the National Mortgage Settlement, according to a progress report released Monday by settlement monitor Joe Smith.

Tennessee is participating in the $25 billion National Mortgage Settlement with the nation's five largest mortgage servicers. This settlement arose from an investigation into unacceptable nationwide mortgage servicing and foreclosure practices. The servicers participating in the National Mortgage Settlement announced in February are Bank of America, J.P. Morgan Chase, Citi, GMAC/Ally Financial, and Wells Fargo. The settlement should provide an estimated $146 million in relief to Tennessee homeowners and addresses future mortgage servicing practices.

Compiling data received from all five mortgage servicers who are party to the settlement, the report shows that Tennessee homeowners have already received over $85 million in relief from March 1, 2012 through September 30, 2012. The relief comes in the form of loan modifications, refinances, and facilitated short sales.

The monitor’s report also shows that servicers were in the process of offering an additional $28 million in savings to eligible Tennessee homeowners.

“This progress report shows that these five servicers are continuing to provide assistance to Tennessee homeowners, but there is still more work to do,” said Tennessee Attorney General Bob Cooper. “My office is continuing its outreach efforts to ensure that eligible homeowners receive the benefits they are entitled to under the settlement.”

Struggling homeowners can call the state’s mortgage assistance hotline at toll-free 855 876-7283 (Monday – Friday, 8 a.m. – 5 p.m. CT) and speak to a representative who can direct homeowners to a free foreclosure prevention counselor and explain various housing assistance programs. Although the National Mortgage Settlement only covers select homeowners whose loans are serviced by the nation’s five largest servicers, the hotline is available to all struggling Tennessee homeowners, regardless of who services their loan.

In addition, homeowners who are having trouble with the five servicers covered by the settlement can report problems to the Office of Mortgage Settlement Oversight by visiting www.mortgageoversight.com.

For more information about free foreclosure prevention counselors or mortgage assistance programs in Tennessee, homeowners may visit www.tn.gov/attorneygeneral or www.KeepMyTNHome.org. For more information about the settlement, please visit www.nationalmortgagesettlement.com.

 


S&ME To Acquire Littlejohn

S&ME, Inc., a Raleigh-based engineering, environmental and construction services company, announced its intent to purchase Littlejohn, a Nashville-based planning, engineering and environmental design firm.  Both S&ME and Littlejohn have offices in Chattanooga. The two privately owned firms have complementary services, geographic markets and work cultures. By joining ... (click for more)

Carriage Parc Apartments On Gunbarrel Road Sell For $29,275,000

Carriage Parc apartment homes at 1346 Gunbarrel Road have sold for$29,275,000. The sale was to G&I Viii Cp Llc from Carriage Parc Associates Llc. This is a description of the complex: "A lifestyle of elegance is awaiting you at Carriage Parc. Our luxurious upscale apartment homes provide a lifestyle of living that everyone deserves. At Carriage Parc experience a quiet ... (click for more)

2 Suspects Sought In Armed Robbery At Highway 153 Long John Silver's

Police are searching for two suspects in an armed robbery that happened Friday morning. At approximately  8:10  a.m. the Chattanooga Police Department responded to 5317 Highway 153 for a robbery at the Long John Silver's.  Officers discovered that two black men, wearing hoodies and masks, entered the Long John Silver's and forced the assistant manager ... (click for more)

Pair Charged With Beating Man With Stick, Taking His Wallet

Two men are charged with beating a man with a large stick while he slept on the steps of a downtown church, then taking his wallet. Jerry Quincy Allen, 45, and James Leo Boas, 40, both of 727 E. 11th St., are charged with aggravated robbery. In the incident on Wednesday, Bradley Casehart said he and a friend were asleep at Tompkin Chapel Church on Palmetto Street. He ... (click for more)

Please Don't Close The Piccadilly Cafeteria At Hamilton Place - And Response

Oh, no. The Piccadilly Cafeteria at Hamilton Place is closing.  Its last day is Christmas Eve.  I will miss the great food they have there but most of all I will miss their servers, cashiers and waitresses.  They are all so friendly and accommodating.  They make it like it’s a home-style restaurant. I sure wish there was some way that Hamilton Place and ... (click for more)

Roy Exum: ‘Scrooge’ Of The Year

As we move into the last weekend before Christmas, the “Scrooge of the Year” has just appeared in Aurora, Ill. Actually Connie Ley has just died. She passed away on Nov. 25, but in her wake left the worst will many around the country have ever heard – her last wishes included that her nine-year-old dog should be put to death, cremated, and buried with her. Bela, a beautiful German ... (click for more)