Connecticut borrowers who lost their homes to foreclosure and qualify for a one-time payment under last year’s landmark mortgage fraud settlement have until Jan. 18 to submit their application.
Connecticut Attorney General George Jepsen said today claim forms have been mailed to eligible borrowers, but they must be returned by the deadline.
The one-time payment covers qualified borrowers who lost their homes to foreclosure between Jan. 1, 2008 and Dec. 31, 2011.
The $25 billion settlement was with the nation’s five largest loan servicers: Ally Bank/GMAC, Bank of America, Citibank, JPMorgan Chase and Wells Fargo. The settlement included $1.5 billion for payments to borrowers who lost their homes.
Jepsen said the payment will be at least $840 and most likely higher. Nationally, 1.75 million mortgages are eligible, including 7,600 in Connecticut.
A follow-up packet, including a letter from Jepsen, was mailed out in December. Another reminder will arrive just prior to the Jan. 18 deadline.
For more information, call 1-866-430-8358, Monday through Friday between 8 a.m. and 8 p.m. Questions can be e-mailed to firstname.lastname@example.org.