As a part of the $25 billion national mortgage foreclosure settlement, Florida homeowners who lost their homes between January 1, 2008 and December 31, 2011 are eligible for a portion of the settlement. Attorney General Pam Bondi announced that those borrowers have until January 18, 2013 to file a claim. Qualified homeowners have been mailed forms they can simply fill out and send in to receive payment. Attorney General Bondi is urging everyone to complete these forms as soon as possible. Payment checks will be mailed out in mid-2013.
To be eligible for a payout, borrowers must have had mortgages serviced by one of the following banks: Bank of America, Wells Fargo, Citi, JPMorgan Chase or Ally. Across the nation, approximately two million borrowers are scheduled to receive a payout as part of the settlement and $1.5 billion has been set aside for these payouts. The amount of the payout will depend on the number of borrowers who claim their payment. If you did not receive a form in the mail but believe you may be eligible, contact the settlement administrator at 1-866-430-8358.
Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Foreclosure defense attorney, Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.