More than 72,000 Florida borrowers whose homes were taken through foreclosure will receive reparation checks this month from the National Mortgage Settlement, which concluded the worth of each loss is $1,480.
The payouts, called trifling by some homeowner advocates, were announced Tuesday. They are part of $1.5 billion in cash compensation that was written into the landmark 2012 settlement between the nation’s attorneys general and its five largest lenders.
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Palm Beach Post Staff Writer John Kennedy contributed to this story.