Settlement and Foreclosures and Legal Issues and Banking & Finance and Lawsuits and Mortgages and Loans and Law

Notices going to those eligible for mortgage settlement

September 25, 2012

More than 37,000 Indiana borrowers who lost homes to foreclosure soon will receive claim forms for payments under the national mortgage settlement.

Indiana Attorney General Greg Zoeller urged eligible borrowers Tuesday to return completed claim forms as soon as possible or file claims online at www.nationalmortgagesettlement.com. The deadline for all claims is Jan. 18, 2013. Payments are expected to be mailed in mid-2013.

Indiana is one of 49 states joining the federal government's settlement with five major mortgage lenders and servicing institutions for allegations of robosigning. As part of the settlement, Indiana's homeowners who were foreclosed upon and experienced a servicer error between Jan. 1, 2008 and Dec. 31, 2011, will split $31.4 million in cash payments.

The national settlement administrator mailed notification postcards to eligible borrowers nationwide last week.

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