More Than 72,000 Floridians Who Lost Homes to Foreclosure Will Receive $1,480 Checks

TALLAHASSEE, FL – June 5, 2013 – (RealEstateRama) — Attorney General Pam Bondi announced today that more than 72,000 eligible Floridians who lost their homes due to foreclosure between 2008 and 2011 and who submitted valid foreclosure claims through the national mortgage settlement will receive checks this month for approximately $1,480. The $1,480 payment amount is uniform for all eligible claimants throughout the country. To be eligible, borrowers must have lost their homes to foreclosure between Jan. 1, 2008 and Dec. 31, 2011, suffered certain foreclosure abuses, and had mortgages serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase or Wells Fargo. This direct relief provided to eligible claimants is one of the facets of the $26 billion settlement entered last year between 49 state attorneys general, the federal government and the nation’s five largest mortgage servicers