Attorney General Bondi Urges Qualified Borrowers Who Lost Homes to Foreclosure to Submit Claims for Payment by January 18

TALLAHASSEE, FL – January 11, 2012 – (RealEstateRama) — Attorney General Pam Bondi reminds eligible Florida borrowers that the January 18, 2013, deadline to file a claim for payment under the national settlement is fast approaching. To date, approximately half of the people to whom notices have been sent have not yet filed claims. Eligible borrowers include those who lost their homes to foreclosure between Jan. 1, 2008 and Dec. 31, 2011 and had mortgages serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo.

Forms have been mailed to qualified borrowers, and they must be completed and returned by Jan. 18, 2013, in the envelope provided, or they can be filed online at www.nationalmortgagesettlement.com. For more information, borrowers should contact the settlement administrator at 1-866-430-8358.

Payment checks are expected to be mailed in mid-2013. Claims received after January 18th may be considered, but payment to those claimants is not guaranteed. The amount of the payment will be the same for all claimants and depends on the number of eligible claims received. Payments will be a minimum of $840, but higher payments to each eligible consumer are expected.

This $25 billion settlement between the nation’s five largest mortgage servicers and the federal government and 49 states and the District of Columbia, earmarked approximately $1.5 billion in payments for 2 million borrowers nationwide. In Florida, approximately $170 million is available for cash payments to Florida borrowers. All available funds will be distributed to those who file claims; none of this money will be returned to the banks or used by the states for any other purpose.

For more information about eligibility and filing a claim:

www.NationalMortgageSettlement.com
Email: administrator (at) nationalmortgagesettlement (dot) com
Call toll-free: 1-866-430-8358 (hearing impaired: 1-866-494-8281). The line is staffed Monday through Friday from (7 a.m. to 7 p.m. Central).

Media Contact:
Jenn Meale
Phone: (850) 245-0150