Share “Part of Oklahoma mortgage settlement goes...”

Part of Oklahoma mortgage settlement goes to nonprofit Legal Aid, others

Oklahoma Attorney General Scott Pruitt's office is partnering with Legal Aid Services of Oklahoma, the Oklahoma Bar Association and Oklahoma Lawyers for America's Heroes Program to help families more successfully navigate mortgage issues, and increase the chance of staying in their homes.
by Richard Mize Published: October 16, 2012
Advertisement

Oklahoma's $18.6 million mortgage settlement with five big lenders will pay for legal services for people trying to manage a mortgage, avoid foreclosure and keep their homes — no matter the lender — in a new partnership between the state attorney general's office and Legal Aid Services of Oklahoma.

Attorney General Scott Pruitt said Monday that Legal Aid received $1.27 million from the settlement to hire, train and reassign 15 attorneys and seven paralegals to help homeowners with mortgage modifications, refinancing, short sales, housing counseling and navigating the foreclosure process in a program called Resolution Oklahoma.

Attorneys with the nonprofit Legal Aid also will look for unlawful practices by lenders and loan servicers and report misconduct to the Attorney General's Public Protection Unit, Pruitt said.

The attorney general “is now leading the charge, and the cavalry is coming to the rescue,” said Michael Figgins, executive director of Legal Aid. “Legal Aid is in the front line.”

Attorneys from Legal Aid's 20 offices statewide will be getting the word out by going to churches and other community groups, he said.

In addition:

An initial grant of $50,000 will bolster the Oklahoma Bar Association's Unauthorized Practice of Law Initiative.

“Each day the OBA receives calls from Oklahomans who have been scammed by individuals pretending to be lawyers and offering mortgage assistance and expertise,” the association said in a news release. “Many of these homeowners do not realize they've been defrauded until they are in serious finance situations or have lost their homes. (The grant) will add resources to this program and improve the state's ability to investigate and prosecute criminals who aim to take advantage of Oklahoma families.”

Continue reading this story on the...

by Richard Mize
Real Estate Editor
Real estate editor Richard Mize has edited The Oklahoman's weekly residential real estate section and covered housing, commercial real estate, construction, development, finance and related business since 1999. From 1989 to 1999, he worked...
+ show more


Trending Now


AROUND THE WEB

  1. 1
    Tiger Woods hires a new swing coach
  2. 2
    Man convicted of beating grandmother to death while high on PCP
  3. 3
    30,000 missing emails from IRS' Lerner recovered | WashingtonExaminer.com
  4. 4
    Report: Weather could change OSU-Baylor kickoff time
  5. 5
    New DHS immigration rules: Drunk drivers, sex abusers, drug dealers, gun offenders not top...
+ show more