FORECLOSURE SETTLEMENT–12,207 Idahoans Eligible
Between 2008 and 2011 over 12,000 Idahoans lost their homes to foreclosure and are now eligible for relief through the National Mortgage Settlement.
At a minimum, borrowers which had their home foreclosed upon will receive $840.00 yet the claim amount will vary since the amount of the claim granted will be determined by the amount of claim forms submitted. The settlement totals 24 billion nationwide and includes 5 national banks.
Idaho Attorney General Lawrence Wasden states that “this payment is not intended to compensate Idahoans for the loss of their homes. Rather, it is a step toward accountability for unfair business practices that harmed Idaho homeowners”
The banks which are involved in the settlement are as follows: JP Morgan Chase, GMAC, Citi, Ally and Wells Fargo.
A letter from Attorney General Wasden, claim form and instructions on how to apply for payment will be sent to the 12,207 Idahoans.