Eligible Maine borrowers who lost their homes due to foreclosure between Jan. 1, 2008 and Dec. 31, 2011 must file a National Mortgage Settlement Claim form by Jan. 18 in order to receive a cash payment from a $1.9 million fund set aside for this purpose.
Attorney General William J. Schneider said notice letters and claim forms were mailed to eligible borrowers in the fall and a reminder postcard was sent to nonresponders in November and December.
As of Dec. 20, notices had been mailed to 2,538 eligible borrowers in Maine and 1,056 claims had been filed, for a filing rate of 51 percent, he said.
“One of the key provisions of the mortgage settlement is this direct payment,” Schneider said. “I encourage eligible borrowers to take advantage of this remedy.”
If you believe you are eligible for relief and have not received a claim form, call 1- (866) 430-8358.
To file a claim online, go to www.nationalmortgagesettlement.com
The settlement negotiated by state attorneys general and the federal government affects borrowers serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo, all of which must provide an additional $20 million to Maine consumers for loan modification relief, Schneider said.
Complete information can be found at www.mortgageoversight.com.
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