"We’re hopeful,” said Joseph Sant, a lawyer at Staten Island Legal Services’ homeowner defense project. “But we had a lot of programs that are good on paper. What will make the difference is that it’s vigorously enforced.”
Many homeowners are already feeling the limitations of the settlement. The settlement's principal reduction relief will not apply to homeowners whose mortgages are held by Freddie Mac and Fannie Mae, a population that includes roughly half of the nation's mortgagors.
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