Posts tagged: mortgage
More than 12,000 Idahoans who lost their homes to foreclosure between 2008 and 2011 are eligible for payments under a national settlement over loan servicing errors that may have led to foreclosures, Idaho Attorney General Lawrence Wasden announced today. The eligible Idahoans will be receiving application packets in the mail to apply for the payments, which will start at $840.
“This payment is not intended to compensate Idahoans for the loss of their homes,” Wasden said. “Rather, it is a step toward accountability for unfair business practices that harmed Idaho homeowners. I remain committed to improving the mortgage servicing industry for the benefit of Idaho’s current and future homeowners.” Wasden joined in the $25 billion nationwide settlement with five national banks in February: Ally/GMAC, Citi, JPMorgan Chase and Wells Fargo. They're the largest servicers of mortgage loans in the nation. Click below for Wasden's full announcement, including information for affected borrowers.