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Dane County Foreclosure Prevention Taskforce

Addressing foreclosures in Dane County, WI through prevention, intervention and stabilization

Dane County Foreclosure Prevention Taskforce - Addressing foreclosures in Dane County, WI through prevention, intervention and stabilization

Mortgage Settlement Fund Notice Coming Soon

Wisconsin Borrowers Who Lost Homes to Foreclosure May be Eligible for Payment

Attorney General J.B. Van Hollen announced that approximately 26,400 Wisconsin residents who lost their homes to foreclosure between January 1, 2008, and December 31, 2011, soon will receive important information about how to file a claim for payment under the national mortgage settlement.

To be eligible, residents must have had mortgages serviced by one of the five following banks that participated in the settlement:

  • Bank of America
  • Citi
  • Wells Fargo
  • JP Morgan Chase
  • Ally/GMAC

The exact amount of individual payments will depend on the total number of borrowers who file a claim.  Eligible borrowers do not need to prove financial harm to receive a payment, nor do they give up their rights to pursue a lawsuit against their mortgage servicer.

Form Distribution and Deadline

Two weeks ago, the national settlement administrator began mailing notification postcards and emailing notification letters to eligible borrowers nationwide.  In Wisconsin, packets containing a letter from the Attorney General, claim form, instructions, and answers to frequently asked questions are being mailed to eligible borrowers beginning September 24, 2012, and continuing through October 12, 2012.

The deadline for all claims is January 18, 2013.  Payment checks are expected to be mailed in mid-2013.

Wisconsin borrowers are urged to complete their claim forms and return them as soon as possible in the envelope provided, or to file the claim form online at www.nationalmortgagesettlement.com.

Eligible Borrowers Who Have Not Been Notified

If you believe you may qualify for a payment but have not received a notice in the mail (perhaps because you have moved), you can contact the settlement administrator by calling toll-free at 1-866-430-8358 to request an application. You also may email the settlement administrator at:  administrator@nationalmortgagesettlement.com.

Claim Form Assistance Available Free

The one-page claim form is easy to complete.  Borrowers who have questions or need assistance filing their claim may contact the settlement administrator toll-free at: 1-866-430-8358.  Alternatively, borrowers may send questions by email to:  administrator@nationalmortgagesettlement.com.

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