Regional
8:37 am
Tue February 26, 2013

Kentucky Homeowners Receive $55.5 Million in Settlement Relief

More than $55.5 million in relief has gone to hundreds of Kentucky homeowners in the national mortgage foreclosure settlement.

Kentucky Attorney General Jack Conway said in a statement that a recent report from the independent settlement monitor also indicates that mortgage servicers were processing more than $2 million in additional claims for Kentucky borrowers, for a total of $57.5 million.

The statement said the 1,562 borrowers received an average of $35,534. The relief was provided by Ally/GMAC/Bank of America, Citi, Chase and Wells Fargo through Dec. 31.

Conway's office said the information provided by mortgage servicers hasn't been verified by the compliance monitor.

The $25 billion settlement was reached a year ago between 49 state attorneys general and five of the nation's largest banks.


Read more here: http://www.kentucky.com/2013/02/26/2532129/ky-homeowners-receive-555m-in.html#storylink=cpy