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Settlement checks to borrowers who lost homes

Fri., June 7, 2013, 6:35 a.m.

HELENA, Mont. — Montanans who lost their homes to foreclosure between 2008 and 2011 and filed a valid claim through the National Mortgage Settlement will receive a check this month for nearly $1,500.

Attorney General Tim Fox announced the payments Thursday for claims involving Ally (formerly GMAC), Bank of America Corp., Citi, JPMorgan Chase & Co., and Wells Fargo & Co.

Checks totaling $2.5 million are being mailed to over 1,700 Montana residents.

The payments come from a $1.5 billion national settlement over mortgage servicing abuse.

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