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 National Mortgage Settlement

National Mortgage Settlement

Forty nine state attorneys general reached a settlement with the nation s five largest banks in February of 2012.  Kentucky received $38.7 million will be allocated by the administrator of the settlement to consumers who qualify for refinancing, loan write downs, debt restructuring and/or payments of up to $2,000.

The five banks included in the settlement are:  Bank of America, JP Morgan Chase, Wells Fargo, Citi, and Ally/GMAC.  In order for consumers to receive direct assistance from this portion of the settlement, they must have a mortgage that is or was held by one of these banks.

A website has been established to provide consumers with information about the settlement at www.NationalMortgageSettlement.com.  Banks will also be directly contacting consumers who qualify for payments or assistance.  If consumers have questions, they may call:

Bank of America ?1-877-488-7814
JP Morgan Chase ?1-866-372-6901
Wells Fargo? ?1-800-288-3212
?Citi? 1-866-272-4749
?Ally/GMAC ?1-800-766-4622

 

The Office of the Attorney General set up a web page with information and answers to frequently asked questions about the settlement www.ag.ky.gov/mortgagesettlement.