January 29th, 2013
Part of the $32 billion national mortgage fraud settlement with Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo included a $1.5 billion fund to compensate borrowers who were foreclosed on after Jan. 1, 2008.
Approximately $170 million is available for cash payments to Florida borrowers. As of last Thursday, 51 percent of eligible homeowners had applied for assistance. Many others have not responded to multiple mailers and live operator calls informing them they may be eligible for modified loans and reduced mortgages.
“This week, I’m going around the state to find these individuals,” Bondi told Realtors attending the Florida Realtors Mid-winter Meetings last week in Orlando. “If I have to, I’ll stand on the steps of every city hall in the state and beg people who deserve their money to come forward.”
Borrowers who submit a claim online will see a deadline notice of Jan. 18, 2013. However a spokesperson for the Attorney General’s office says claims administrators will accept claims forms through Feb. 15, 2013. The form must be filled out completely and properly or the claim will not be paid.
Individuals who have questions or need help filing their claims can contact the settlement administrator, toll-free, at 866-430-8358, or send questions by email to email@example.com.