Claim forms are going out to about 46,600 Virginians who may be eligible for payments under the national mortgage foreclosure settlement.
Attorney General Kenneth Cuccinelli says the payments are for borrowers who lost their homes to foreclosure during the four years ending Dec. 31, 2011, and had their loan serviced by one of the five companies that are part of the settlement with the federal government, 49 states and the District of Columbia. Those companies are Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo.
A total of $1.5 billion was earmarked for 2 million borrowers nationally. The exact payment will depend on the number of borrowers who participate.
Copyright AP - Associated Press
