West Virginians to get mortgage settlement money
CHARLESTON, W.Va. -- More than 2,600 West Virginians are expected to receive money from a national mortgage settlement.
Attorney General Patrick Morrisey says residents in the state are getting a combined total of more than $3.8 million in settlement funds.
Forty-nine states, including West Virginia, as well as the federal government, announced the settlement with five participating mortgage service providers last year. Those service providers include Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo. The settlement included a $1.5 billion payment to help compensate borrowers for mortgage servicing abuse they may have endured.
Morrisey says more than 2,660 checks will be mailed around mid-June to West Virginians who experienced a foreclosure sale between Jan. 1, 2008, and Dec. 31, 2011.