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Foreclosed Floridians may be able to participate in $25B settlement

6:28 PM, Sep 24, 2012   |    comments
AP
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TALLAHASSEE, Fla. -- Some Floridians affected by foreclosure will soon be able to lay claim to part of the $25 billion nationwide mortgage foreclosure settlement.

State Attorney General Pam Bondi announced Monday that 167,398 individuals who lost their homes in foreclosure from Jan. 1, 2008 to Dec. 31, 2011 will soon receive claim forms, according to a release from Bondi's office.

The settlement was reached between America's five largest lenders -- Ally/GMAC, Wells Fargo, JPMorgan Chase, Bank of America and Citi -- and the federal government, as well as attorneys general for 49 states and the District of Columbia.

The amount that participants receive depends on how many people take part in the settlement, the release said.

Qualified borrowers were mailed postcards postcards last week. The claim packets, which contain a letter from Bondi, an FAQ list and the claim form, will be mailed through Oct. 12.

The claim forms can be mailed or completed online at www.nationalmortgagesettlement.com. Free assistance is available in completing the forms by calling 1-866-430-8358 from 7 a.m. to 7 p.m. or emailing administrator@nationalmortgagesettlement.com.

Bondi wants borrowers to be aware that the claims process is free and no one should pay to file a claim. Any settlement-related scams should be reported to Bondi's office by calling 850-414-3990.

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