WAMU 88.5 : News

Filed Under:

Over 10,000 Maryland Residents To Get Money From Mortgage Settlement

Play associated audio

More than 10,000 Maryland residents who had their homes forclosed on will start receiving checks this week after a multi-state settlement with five mortgage companies.

All told, 10,740 Maryland residents will receive a check following the National Mortgage Settlement. That means anyone in Maryland who submitted a claim after having their mortgage serviced by one of five companies—Bank of America, Citi, JPMorgan Chase, Wells Fargo, or Ally/GMAC—and then lost their home through foreclosure between 2008 and 2011 will receive a check for just under $1,500.

Attorney general Doug Gansler says that amount in no way fully compensates those who lost their homes, but it is higher than the initial settlement figure of $840 per person. Gansler adds anyone who receives a check from the settlement is still able to receive additional compensation through a separate lawsuit or other claims.

The National Mortgage Settlement was the result of allegations that those mortgage servicers—the five largest in the U.S.—engaged in illegal "robo-signing" of documents and a variety of other abuses.

NPR

To Play Sports Under Taliban Rule, 'Different Kind Of Daughter' Dressed As A Boy

Growing up in the tribal region of Pakistan, Maria Toorpakai pretended she was a boy in order to compete as a weightlifter. Later she became an internationally known squash player.
NPR

How A Cheese Factory Is Transforming The Landscape Of Northern Colorado

Leprino's is the largest mozzarella manufacturer in the world. Now that the company is expanding, Colorado dairy farmers are beefing up their operations. The changes don't come without costs.
NPR

Kasich Dropping Out Of Presidential Race; Donald Trump Assured GOP Nomination

The Ohio governor is suspending his presidential campaign, leaving Donald Trump as the last man standing. Kasich won one state — his home state — and trails far behind in the delegate count.
NPR

Not Just Bitcoin: Why The Blockchain Is A Seductive Technology To Many Industries

From bank regulation to military messaging, the blockchain is offering a wide potential to change the way online transactions and communications are carried out.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.