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Payment for homeowners wronged by foreclosure

Payment for homeowners wronged by foreclosure

CREATED Mar 29, 2013

Web Producer: Kristie Smith

PIMA COUNTY (KGUN9-TV) - Homeowners may be receiving compensation if they were wrongly harmed by the foreclosure of 2009 and 2010 according to the Pima County Housing Center.

Betty Villegas, Housing Program manager, tells KGUN9 that 4.2 million people will receive payment.       

Homeowners who requested a free Independent Foreclosure Review on Dec. 31, 2012 were in connection with the U.S. government's enforcement against 13 mortgage servicers including Bank of America, Wells Fargo Bank, N.A, Chase, Countrywide, Citibank, Morgan Stanley, U.S. Bank, Wachovia Mortgage and Washington Mutual.

There is a result of $3.6 billion cash agreement between federal banking regulators and the 13 mortgage servicers according to Villegas. A letter and check from the paying agent (Rust Consulting Inc.) will arrive in four to eight weeks.

Payments are expected to range anywhere from a few hundred dollars to $125,000 according to Office of the Comptroller of the Currency.    

With any other help in foreclosure prevention please contact Pima County Housing Center at 520-624-2947