SOURCE: The Mortgage Law Group

The Mortgage Law Group

February 13, 2012 18:18 ET

Mortgage Settlement Comes Too Late for Many American Homeowners

Attorneys at The Mortgage Law Group Say Despite the Many Positives of the Recent Mortgage Settlement, It Still Fails to Help Those Facing an Immediate Threat of Losing Their Homes

CHICAGO, IL--(Marketwire - Feb 13, 2012) - The entire media circuit has been abuzz this week with news of the mortgage settlement deal between state attorneys general and four major US lenders. The settlement, valued at upwards of $30 million, is expected to provide financial relief to over one million struggling homeowners.

What has not been mentioned this week is how to help the thousands of Americans that are facing the threat of foreclosure right now.

"While the proposed deal may provide some measure of redress to borrowers who have lost their homes, it will not be returning their homes to them," says The Mortgage Law Group attorney, Kelly Sibert. "Nor does the deal serve to address the threat of foreclosure that millions of Americans in default currently face."

Once the deal is enacted it will be carried out over a three-year period, but for those in need of immediate assistance, that will be too late. The Mortgage Law Group strongly encourages anyone struggling with a mortgage to address their problem promptly in order to yield the best results.

The attorneys at The Mortgage Law Group have years of experience in mortgage mitigation and are happy to offer free consultations to anyone seeking loan modification assistance. The firm, however, remains hopeful that the settlement will be a step in the right direction.

"We hope that the nation's mortgage lenders will begin moving more aggressively toward putting homeowners into mortgages they can afford," Sibert concludes. "This would have a substantial effect of helping to stem the current mortgage crisis."

For more information, visit:

About The Mortgage Law Group:

The Mortgage Law Group is one of the most sophisticated consumer protection law firms nationwide. They've helped thousands of consumers save their homes and restore their lives. With offices located throughout the country, the firm's goal is to deliver outstanding service from highly qualified mortgage relief attorneys.