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September 6, 2013     Cape Gazette
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September 6, 2013

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ill I IIi  52 FRIDAY, SEPTEMBER 6 - MONDAY, SEPTEMBER 9, 2013 BUSINESS & REAL ESTATE Cape Gazette More than 3,000 Delawareans benefit from national mortgage settlement The Delaware Attorney Gen- eral's Office announced recently that more than 3,000 Delawar- eans are receiving direct fmancial benefits from last year's historic settlement with the nation's five largest, mortgage banks. "The direct fmancial benefits that Attorney General Biden secured for Delaware from mort- gage banks through the national settlement, along with our state's recently extended foreclosure mediation program, are helping thousands of Delaware families avoid foreclosure," said Chief Deputy Attorney General Ian McConnel. "In addition, the at- torney general and his team have helped secure compensation for Delawareans for mortgage servicing abuse that happened in the past and have established tough new national servicing standards to prevent future abu- sive servicer conduct." In February of last year, Biden, 48 other attorneys general and the federal government reached a $25 billion settlement with five of the nation's largest mortgage banks including Ally (former- ly known as GMAC), Bank of America, Citi, ]PMorgan Chase and,Wells Fargo. The settle- ment resolved allegations of widespread mortgage servicing misconduct, including robo-sign- ing of foreclosure documents by those banks. The independent monitor ap- pointed by the states and federal govemment to review the banks' progress in meeting their ob- ligations under the settlement announced recently that 1,297 Delaware families have benefited from the settlement through June 30, 2013. The settlement terms Biden and others secured last year require the banks to reduce principal on mortgage loans, extinguish second lien mort- gage loans, waive deficiencies in short sales, and provide refinanc- ing to so-called "underwater" homeowners who are unable to refinance because they owe more than their homes are worth. In total, these principal reductions, refinancing and other benefits for the 1,297 Delaware home- owners now total more than $72 million, according to the moni- tor's report. Another 425 Delaware home- owners are in the process of receiving an estimated $30 mil- lion more in benefits through trial modifications that have not yet been finalized. This past June, as part of last year's national mortgage settle- ment, 1,500 Delawareans who lost their homes to foreclosure began receiving checks in the mail. Eligible Delawareans were those individuals who had a mortgage serviced by one of the five participating banks, lost their home between 2008 and 2011 and submitted a valid claim form. The checks, which typi- cally totaled $1,480, were paid by the five participating banks to former homeowners as a result of mortgage servicing abuses the banks may have committed. In January 2012, as part of a sustained state response to the national housing crisis, Biden's office launched the Delaware Mortgage Mediation Program, which requires lenders to have a meaningful face-to-face con- versation with borrowers about alternatives to foreclosure before a foreclosure filing can proceed. Through legislation championed this spring by Biden, the media- tion program was extended four additional years to 2018. The 2012 national mortgage settlement also required the OUR 2ND LOCATION SAT. GRAND OPENING OCT. 5 CELEBRATION 12-3PM Briefly )) Becker Morgan Group welcomes leremy I. Walbert ]eremy I. Walbert, PE, has joined Becker Morgan Group as an associate/structural engineer in the Salisbury, Md. office. The addition of Walbert allows the firm to further enhance client services by offering structural engineering capabilities in- house. Walbert is a graduate of the University of Colorado at Boulder with a master of sci- ence in civil engineering with a concentration in structural engineering and graduated from the Florida Institute of Technol- ogy with a bachelor of science in civil engineering. With more than eight years of experience in the-industry, Walbert previously worked as the senior project engineer at an architectural and engineering firm that serves the Mid-Atlantic Region. Walbert's experience with Becker Morgan Group includes a variety of proj- ects in Chestertown, Md., Easton, Md., Cambridge, Md., Ocean City, Md., Millsboro and Dover. Celebrating 30 years, Beck- er Morgan Group provides architectural and engineering services. The firm has offices in Delaware, Maryland and North Carolina. For more information, visit CAMEL()T NEW CONSTRUCTION SUSSEX EAST Dover Continued from page 5i ESGR is a Department of De- fense office established in 1972 tO develop and maintain employer support for Guard and Reserve service. ESGR advocates relevant initiatives, recognizes 6utstand- ing support, increases awareness of applicable laws, and resolves conflict between service mem- bers and employers. Paramount to ESGR's mission is encourag- ing employment of guardsmen and reservists who bring in- tegrity, global perspective and proven leadership to the civilian workforce. For more information t about ESGR Outreach Programs, or ESGR volunteer opportuni- ties, call 800-336-4590 or visit Owned by Dover Downs Gam- ing & Entertainment, Inc. Dover Downs Hotel & Casino is a pre- mier gaming and entertainment resort destination in the Mid-At- lantic region. Gaming operations consist of approximately 2,500 slots and a full complement of table games including poker. The AAA-rated Four Diamond hotel is Delaware's largest with 500 luxurious rooms/suites and amenities including a full-service spa/salon, concert hall and 41,500 square feet of multiuse event space. For more information, go to )Visit us online at: www, RYAN CLASS 302-236-9037 - 3 BR, 2 BA home wl pomh and sunroom. New construction wl all warranties. Open plan wl breakfast bar, uraded appliances. Community has pool and provides snow removal and grass cutting. Never lived in. Shed included. Reduced to $79,900 (MLS #590878) 17 Whitehaven Way - Well-kept home in 55+ community w/community center & pool. Local to everything at the beach, restaurants, historic Lewes, Boardwalk & Cape Henlopen State Park. 1 car garage. Tankless water heater! Reduced $74,900 (MLS# 599096) mortgage banks to implement hundreds of improvements to their operations, especially in customer service. Biden's of- fice insisted that protections for military members be included in those requirements. Additional details about the mortgage relief provided by the five settling banks under the terms of the national mortgage settlement and Delaware-spe- cific relief for each of the banks is posted on the independent monitor's website at www.mort- We can make Buying or Selling EASIER.THAN YOU Remax Realty Group 317 Rehoboth Ave. Rehoboth DE, Office: 302-227-4800 LARGE HEALTH FOOD MARKET NOW OPEN IN REHOBOTH Come Meet Our Favorite Local Vendors Behind Bin 66 on Rt. 1 Open Daily 9 to 7 Sunday 10 to 6 302-226-3276 WWW.BAYSIDEHOM ESALES.COM DELAWAREMODU LARBEACH HOMES.COM BAYSIDE HOMES LLC 18389 Olde Coach Dr., suite 6, Rehoboth Beach 302-645-2030 Lochwood - 3 BR 2 BA Cape local to everything. Proect will be started in June 2013. Unfinished upstairs with over 900 sq. ft. of available building area. Nice private lot. 2 car garage included. Open floorplan, model is available to view as a ranch at our office behind Panera Bread. Stainless Appliances, Hardwood Floors. Call me with questions or to reserve and select colors $249,900 2 Coventry Lane - Nice, three bedrooms, 2 baths, fireplace, large screened porch. All appliances. $64,900 (MLS# 599223) 29 Candlelight - Worry-free beach house, local to the beach, Cape Henlopen State Park, outlets, fine dining, grocery stores & more. 2 bedroom, 1 bath singlewide. All appliances, storage shed, sunporch w/tg. windows. All for only $20,000. (MLS 601986) Have land, looking for a beach home, replacing an older mobile??? We have the largest selection . of floorplans at the Beach for Manufactured and Modular Homes Single.wides, Double wides, Ranch, Cape Cods, 2 Storys. With over 30 years of experience in Sussex County and the beaches. "Your mobile home specialist, call me today! I will work hard to find the home of your dreams."