{Frankfort, Kentucky}...Kentucky Attorney General Jack Conway has announced that thousands of Kentuckians may receive payment as part of a national mortgage settlement. To be eligible, homeowners must have had loans serviced by Ally/GMAC, Bank of America, Citi Bank, JP Morgan Chase or Wells Fargo and lost their homes either through sheriff sale, short sale or deed in lieu of foreclosure between January 1, 2008 and December 31, 2011. Two million postcard notices were mailed on Monday, September 17th, to U.S. homeowners who lost their homes to foreclosure. Approximately 5,395 Kentucky homeowners who were foreclosed upon, are now eligible for payments totaling $10.7 million. Depending upon the number of eligible participants, the amount payable to these borrowers will be up to $2,000 per eligible household. A follow-up letter with paperwork to complete will be sent directly to consumers from the Attorney General in October. Homeowners should receive a letter and claim form by October 19, 2012. Wednesday, September 19, 2012
KY Included In National Mortgage Settlement
{Frankfort, Kentucky}...Kentucky Attorney General Jack Conway has announced that thousands of Kentuckians may receive payment as part of a national mortgage settlement. To be eligible, homeowners must have had loans serviced by Ally/GMAC, Bank of America, Citi Bank, JP Morgan Chase or Wells Fargo and lost their homes either through sheriff sale, short sale or deed in lieu of foreclosure between January 1, 2008 and December 31, 2011. Two million postcard notices were mailed on Monday, September 17th, to U.S. homeowners who lost their homes to foreclosure. Approximately 5,395 Kentucky homeowners who were foreclosed upon, are now eligible for payments totaling $10.7 million. Depending upon the number of eligible participants, the amount payable to these borrowers will be up to $2,000 per eligible household. A follow-up letter with paperwork to complete will be sent directly to consumers from the Attorney General in October. Homeowners should receive a letter and claim form by October 19, 2012. 