The Washington Attorney General’s Office recently mailed claims forms to some 34,000 borrowers who lost homes to foreclosure.
Under the $25 billion national foreclosure settlement negotiated by 49 states and the federal government, borrowers who had mortgages serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo and lost their homes between Jan. 1, 2008 and Dec. 31, 2011 may be eligible for one-time payments. Filling out and returning a claim form is the first step in receiving compensation.
Payment amounts will depend upon the total number of borrowers who decide to participate.
Eligible borrowers should mail in their forms as soon as possible, or file them online at nationalmortgagesettlement.com. The deadline for claims is Jan. 18, 2013. Payment checks are expected to be mailed in mid-2013.