Oklahoma real estate notes, Sept. 15

Oklahoma real estate notes, Sept. 15
Published: September 15, 2012
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REAL NOTES

Parade has more than 120 homes

More than 120 new homes will be open free to the public from 1 to 7 p.m. Sept. 29 through Oct. 7 at the 67th annual Parade of Homes organized by the Central Oklahoma Home Builders Association and sponsored by Womble Co. Many of the homes will be in one of the five featured neighborhoods: Pleasant Grove, Williamson Farms, Rose Creek, Monterau and Hidden Creek. Free parade plan guides, with photos, maps and descriptions of the homes, will be available starting at noon Sept. 28 at Oklahoma City-area Arvest Bank and Best Buy locations. The parade also will have an iPhone app and mobile webpage. Kenyon Woods is parade chairman.

Mortgage refund checks set

The state attorney general's Public Protection Unit will start distributing checks from the Oklahoma Mortgage Settlement Fund on or before Oct. 15, officials said. The office received more than 300 calls and last-minute applications this week for compensation. The deadline was Thursday. The funds are the result of an $18.6 million settlement that Attorney General Scott Pruitt negotiated with Bank of America, JP Morgan Chase, Citigroup, GMAC and Wells Fargo. The settlement, separate from the 49-state national settlement with the same lenders, will enable the state to provide compensation to Oklahomans who were harmed by one of the mortgage servicers during the housing crisis. The attorney general's office created an index to determine amounts to award for specific types of wrongdoing by the lenders. Examples include repeatedly lost paperwork; misapplied payments that led to foreclosure; robo-signing of documents that were supposed to receive individual review; unfair practices during mortgage modifications; advising homeowners to stop making house payments to qualify for a modification; and dual-tracking, or considering a homeowner for modification while simultaneously pursuing foreclosure.