News
Deadline For Foreclosure Claims January 18
By: Atish Baidya
Posted on:
Homeowners in Ohio who lost their homes to a foreclosure sale have until January 18 to file a claim with the National Morgage Settlement Administrator.
Ohio Attorney General Mike DeWine urged eligible homeowners to file a claim by the deadline.
Last year 49 states and the U.S. government reached a settlement with the nation's five largest mortgage servicers to provide compensation to eligible homeowners. The estimated amount of compenstation could be as much as $1,400.
According to the Administrator, 58% of eligible Ohioans have filed claims.
The elilgibility requirements are:
Borrower had a mortgage loan secured by an owner-occupied, one-to-four unit residential property.
Borrowers' mortgage loan was serviced by one of the five servicers.
Borrrower made at least three payments on the mortgage loan.
Borrower lost home to a foreclosure sale (including strict foreclosure) between January 1, 2008 and December 31, 2011.
Unpaid principal balance of the first mortage loan did not exceed the GSE conforming loan limits.
Property address was located in a participating state.
DeWine's office said eligible borrowers should have already received a claim form and several other mailings from the National Mortgage Settlement Administrator. People can still file a claim online.