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Some Ohioans Are Getting Payments from Mortgage Settlement

Monday, November 19, 2012 at 4:15 PM

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Some Ohioans are taking full advantage of a national settlement with five mortgage servicers -- a settlement that offers financially pinched homeowners relaxed terms on their mortgages. Ohio’s Attorney General Mike DeWine says a monitor’s report shows many Ohioans are getting some relief. Here’s part of an interview with DeWine by statehouse correspondent Bill Cohen.

DeWine: “Well we have already have over 1,700 Ohioans who been able to get some relief, so this is very, very significant. This totals about $165 million dollars in relief.”

DeWine says some homeowners are skeptical when they receive offers from the mortgage servicers to negotiate more favorable terms on their loans. The attorney general says his office is glad to help the homeowners figure out if the offers are legitimate or a scam. The five companies that agreed to settle complaints against them are Wells Fargo, JP Morgan Chase, Citi, Bank of America and Ally.

Tags

Economy, Courts/Crime - Fire/Law Enforcement, Statehouse News Bureau

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