National mortgage settlement checks in the mail

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Indiana Attorney General Greg Zoeller says checks totaling more than $26 million will be mailed to more than 18,000 Indiana consumers this month containing shares of the National Mortgage Settlement.

Zoeller said Tuesday the checks for $1,480 will be mailed by June 17 to Indiana residents who submitted valid claims. Those eligible lost their homes to foreclosure between 2008 and 2011 while their mortgage was being serviced by Bank of America, Citi, JPMorgan Chase, Wells Fargo or Ally, formerly known as GMAC.

Zoeller says about 56 percent of eligible borrowers in Indiana submitted a claim, slightly above the national rate.

Indiana's share of the national settlement was about $145 million. About $100 million went to direct assistance to borrowers who lost their homes in foreclosure or sought to refinance.

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