Friday, Sep 30, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Real Estate

72,000 who lost homes in Mich. to get checks

LANSING — About 72,000 borrowers who lost their homes to foreclosure in Michigan over a 4-year period will share in a national settlement with five large banks.

The Michigan attorney general’s office said Monday that borrowers will receive checks for about $1,480 each. They’ll be mailed starting this week.

Ohio announced similar checks earlier.

The $107 million in restitution stems from a 2012 settlement announced by 49 states and the federal government. The country’s five largest mortgage servicers agreed to the settlement after investigations into employees signing documents without proper review and other errors.

Eligible borrowers had mortgages serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo. To be eligible, they must have lost their homes between 2008 and the end of 2011.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…