mortgage settlement

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.

Kentuckians are being urged to watch their mailboxes for postcards alerting them to a financial settlement. Notices were mailed Monday to more than 5,000 Kentuckians who were foreclosed upon between Jan. 1, 2008, and Dec. 31, 2011, and are now eligible for a share of $10.7 million.