Housing Assistance Corporation Blog

State Announces Settlement for Foreclosure Victims

Posted by Julie Wake on Sat, Oct 06, 2012 @ 08:32 AM

The Mass. Attorney General’s office announced last month that claim forms were being sent to state residents who lost their homes to foreclosure and who may be eligible for payment under a national mortgage settlement. Massachusetts received $44.5 million through the settlement.

The funds are available to homeowners who had mortgages with Allied/GMC, Citi, Bank of America, Wells Fargo or J. P. Morgan Chase and who experienced a foreclosure occurred incorrectly between Jan. 1, 2008, and Dec. 31, 2011.

Two million postcards were mailed Sept. 17 to people who had owned homes and are believed to have been wrongly foreclosed upon. People who believe they are eligible but didn’t receive a postcard can call 866-430-8358 or visit www.NationalMortgageSettlement.com.

The amount of the claim will depend upon the number of eligible homeowners who respond. It would be $840 if all eligible borrowers submitted claim forms, but is very likely to be higher.

Tags: housing assistance corporation, Foreclosure, Housing on Cape Cod