Abuses • 5 lenders making amends for foreclosure practices.
This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.
About 16,000 Utahns who lost their homes to foreclosure from 2008 through 2011 will be receiving claim forms in the mail over the next few months as part of a nationwide settlement with certain mortgage lenders and servicers.
Utah borrowers who had their mortgages from Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo may be entitled to financial compensation.
The settlement, which took effect in April, provides $1.5 billion in payments for 2 million borrowers nationwide. About 16,000 Utahns may qualify for a portion of that money.
"Utah borrowers who were dealt with unjustly by these five lenders deserve compensation," Attorney General Mark Shurtleff said in a statement. "However, participating in this settlement will not give up any legal rights to pursue more compensation."
The one-page forms must be returned by Jan. 18 and can be submitted online at www.nationalmortgagesettlement.com or by mailing a printed version back in the included envelope.
Borrowers who have questions may call 1-866-430-8358 toll-free from 6 a.m. to 6 p.m. Monday through Friday or contact the settlement administrator by email at firstname.lastname@example.org.
Borrowers who believe they may qualify for a payment but do not receive notice should contact the settlement administrator directly.
State officals also are warning of possible scams. They say borrowers do not need to pay anyone to file their claims. They warned that borrowers should not provide any personal information or pay money to anyone who calls or emails them saying they are providing settlement-related assistance.
You can report possible scams to the Utah Attorney General's Office at 801-366-0260 or email email@example.com.
Filing a claim
Forms must be returned by Jan. 18 online at www.nationalmortgagesettlement.com or by mailing a printed version back in an envelope that will be included with the form.
For information call 1-866-430-8358 from 6 a.m. to 6 p.m. Monday-Friday or contact an administrator by email at firstname.lastname@example.org.