Mortgage settlement fund notices are coming soon

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Foreclosed homes

MADISON — Attorney General J.B. Van Hollen announced on Thursday, September 27th that approximately 26,400 Wisconsin residents who lost their homes to foreclosure between January 1, 2008, and December 31, 2011, soon will receive important information about how to file a claim for payment under the national mortgage settlement.

To be eligible, residents must have had mortgages serviced by one of the five following banks that participated in the settlement: 

  • Bank of America
  • Citi
  • Wells Fargo
  • JP Morgan Chase
  • Ally/GMAC

The exact amount of individual payments will depend on the total number of borrowers who file a claim.  Eligible borrowers do not need to prove financial harm to receive a payment, nor do they give up their rights to pursue a lawsuit against their mortgage servicer.  Attorney General Van Hollen encourages every eligible Wisconsin citizen to file a claim for their share of the payments.  

The deadline for all claims is January 18, 2013.  Payment checks are expected to be mailed in mid-2013.

The one-page claim form is easy to complete. Borrowers who have questions or need assistance filing their claim may contact the settlement administrator toll-free at: 1-866-430-8358. Alternatively, borrowers may send questions by email to: administrator@nationalmortgagesettlement.com

If you believe you may qualify for a payment but have not received a notice in the mail (perhaps because you have moved), you can contact the settlement administrator by calling toll-free at 1-866-430-8358 to request an application. You also may email the settlement administrator at: administrator@nationalmortgagesettlement.com