W.Va. AG launches mortgage settlement project

AP News
Posted: Feb 14, 2012 12:21 PM
W.Va. AG launches mortgage settlement project

West Virginia officials are launching a project to help homeowners get relief stemming from a nationwide mortgage settlement.

To help with the settlement, state Attorney General Darrell McGraw's office has launched "Project: Save Our Homes."

The $25 billion settlement between states and five mortgage lenders over foreclosure abuses was announced last week.

The banks will make cash payments to those who experienced foreclosure abuses from Jan. 1, 2008 to Dec. 31, 2011. Under the agreement, the banks also will modify loan terms and provide other relief to home borrowers. The banks are Bank of America, JPMorgan, Chase, Wells Fargo, Citigroup and Ally Financial.

McGraw says homeowners who believe they might be eligible for relief or have mortgage issues with banks should contact his office's consumer hotline at 1-800-368-8808.