Just over 18 thousand homeowners in Georgia will start seeing checks from their mortgage servicer starting Friday. The payments are part of a settlement between the federal government and 13 financial institutions which admitted taking shortcuts in the foreclosure process.
This week the Federal Reserve reported families’ median net worth fell almost 40% between 2007 and 2010. The Fed reports the biggest contributor to the drop in family net worth was the housing collapse. It hit middle income families the hardest.