Released by: Michael A. Delaney, Attorney General
Subject: Mortgage Settlement Fund applications to be mailed soon to New Hampshire residents
Date: September 19, 2012
Release Time: Immediate
Contact: James T. Boffetti, Senior Assistant Attorney General
Consumer Protection and Antitrust Bureau
Attorney General Michael A. Delaney announces that approximately 7,600 New Hampshire residents who lost their primary residence due an improper foreclosure process between January 1, 2008 and December 31, 2011 should expect to receive notice by mail with important information about how to file a claim for funds under the National Mortgage Settlement. Attorney General Delaney encourages every eligible New Hampshire citizen to apply.
These funds are part of national mortgage settlement between 49 states and the five largest national banks. The amount of individual payments will depend on the number of people who file a claim and payments are likely to be in the range of $1,200 and $1,500 per borrower.
The foreclosure must involve one of the following five banks:
- Bank of America
- Wells Fargo
- JP Morgan Chase
The deadline for filing a claim is January 18, 2013.
Notices are scheduled to be mailed beginning September 24, 2012.
If you think you might qualify and did not receive a form in the mail, please call 1-866-430-8358. For more information, go to www.nationalmortgagesettlement.com.
You can also call the Attorney General’s Mortgage Hotline at 1-866-522-4450.
This settlement is in addition to a separate Independent Mortgage Foreclosure Review Program being conducted by federal authorities. That program involves many more banks and a shorter time period [2009-2010]. If that review finds financial injury occurred as a result of bank misconduct, the borrower may receive remediation such as lump-sum payments, suspension or rescission of a foreclosure, a loan modification or other loss mitigation assistance, correction of credit reports, or correction of deficiency amounts and records. Lump-sum payments under that program can range from $500 to, in the most egregious cases, $125,000 plus equity.
The Request for Review Form for the federal program can be completed online at www.independentforeclosurereview.com.
Those forms must be submitted by December 31, 2012.
New Hampshire homeowners are encouraged to explore both of these options. For more information, please call the Attorney General’s Mortgage Hotline at 1-866-522-4450.