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Florida homeowners get huge chunk of BofA settlement

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The tentative deal – which people briefed on the matter said would cost Bank of America more than $16 billion to settle investigations into its sale of toxic mortgage securities – started to take shape last week after the Justice Department rejected yet another settlement offer from the bank. Then, a wild card entered the fray.

BofA Settlement, a Real Victory?  · $25 Billion Agreement Provides Homeowner Relief & New Protections, Stops Abuses. The unprecedented joint agreement is the largest federal-state civil settlement ever obtained and is the result of extensive investigations by federal agencies, including the Department of Justice, HUD and the HUD Office of the Inspector General (HUD-OIG),

Whistleblower facing foreclosure wins $18 million. When we first met Lynn Szymoniak on 60 Minutes, she was losing her home. She blew the whistle on bank fraud, and now she’s walking away with $18.

The median cost of a home is $185,000, which is only $5,000 above the national average. But according to, one in 734 Florida homes is foreclosed on , which ranks fourth-highest in the nation.

It gets split up, and sometimes your lender is getting a sizable chunk of the action. An estimated two-thirds of home appraisals are produced by appraisal management companies, some of them owned in.

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"If they don’t get you one way, they get you another way. I’m so over getting jerked around." The $25 billion settlement reached this year with Bank of America and other. on millions of homeowners.

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Florida grabs a chunk of foreclosure settlement money for state budget. Florida’s total take in the $25 billion national settlement – which includes principal writedowns and mortgage modifications – is worth about $8.4 billion. About $334 million of that came in the form of a cash payment to the state, and the attorney general’s office has maintained that most of the money will be used to directly help homeowners.

"Bank of America Merrill Lynch" is the marketing name for the global banking and global markets business of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC.