The California Attorney General has announced that it will establish a trust fund to help those whose homes were foreclosed or in foreclosure. The fund, totalling $6.5 million, is funded by the settlement reached recently in a state lawsuit against former senior executives of Countrywide. In the suit, the state claimed that Countrywide, led by these execs, used excessively low teaser interest rates to lure homeowners into taking these loans, usually without any information as to attendant risks in the loans. This fund could help many of you out there if you fit its qualifications. Check with the Cal AG's office for details.
Good luck!
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