Mortgage Settlement checks going out to more than 72,000 foreclosed Floridians
This Mortgage Settlement will provide substantial relief to struggling Florida homeowners, and ensures that the state gets its fair share of the relief being provided nationally.
More than 72,000 eligible Floridians who lost their homes to foreclosure from 2008 to 2011 will receive $1,480 from the landmark mortgage settlement involving the nation's five largest mortgage lenders, Florida Attorney General Pam Bondi announced.The first of the checks will be sent Monday.
To qualify, homeowners had to lose their homes to foreclosure during the three years covered and had to have suffered foreclosure abuses, such as lenders providing false affidavits or robo-signed documents. The borrowers also had to have mortgages serviced by the five settling lenders — Ally/GMAC, Bank of America, Citi, JPMorgan Chase or Wells Fargo.
The payouts are part of the $26 billion settlement reached last year by the lenders, 49 state attorneys general and the federal government.
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