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Those foreclosed on may be compensated
Updated: Tuesday, 25 Sep 2012, 9:47 AM CDT
Published : Tuesday, 25 Sep 2012, 9:47 AM CDT
TALLAHASSEE, Fla. (WALA) - The state is sending out forms to 167,398 Florida borrowers who lost their homes in foreclosures to apply for compensation from a $25 billion national settlement with five major lenders.
Attorney General Pam Bondi said on Monday that they will have until Jan. 18, 2013 to submit claims.
Those eligible lost their homes to foreclosure between Jan. 1, 2008 and Dec. 31, 2011. They had mortgages with Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo.
The attorneys general of 49 states and the District of Columbia obtained the settlement in response to lender abuses.
That includes "robo-signing" — the practice of hiring people to sign foreclosure documents in assembly line fashion with little or no knowledge of what they were doing.
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