297 in state to get National Mortgage Settlement payments
Payments of $1,480 will go to 297 Wisconsin residents who lost their homes to foreclosure from 2008 to 2011, according to Attorney General J.B. Van Hollen.
This is the latest in compensation to state residents under the National Mortgage Settlement, according to Van Hollen, which is a three-year agreement between the attorneys general of 49 states, the District of Columbia, the federal government, and the five largest mortgage servicers — Bank of America, JP Morgan Chase, Wells Fargo, Citibank and Ally Bank, formerly GMAC.
That settlement has provided more than $51 billion in relief to consumers nationally. Recently, Van Hollen announced that Wisconsin joined a $2.1 billion settlement with the next-largest mortgage servicer, Ocwen.
Wisconsin residents who have questions about the National Mortgage Settlement or the Ocwen mortgage settlement may contact the Wisconsin Department of Justice at: consumerprotection@doj.state.wi.us, 800-998-0700 or 608-266-1852.
