By Steve Klamkin WPRO News
Rhode Islanders who went through foreclosure between January 1, 2008 and December 31, 2011 may be eligible for a cash settlement under a $25 billion national mortgage settlement with five mortgage servicers, but the deadline to file a claim is fast approaching on Friday, January 18, 2013.
"If you believe you were improperly foreclosed upon during that time frame, you must fill out an application and submit it to the National Mortgage Settlement Administrator, and that deadline to fill out that applications is coming up on January 18th," said Amy Kempe, spokeswoman for the Rhode Island Attorney General's office.
She said that about 5,500 notices were sent to Rhode Islanders who may have had their mortgages serviced by either Ally./GMAC, Bank of America, Citi, JPMorgan Chase or Wells Fargo, but only about 2,398 claims have been filed. Kempe says that understandably, many of those people probably no longer live in the foreclosed homes. Her office issued the following information in a statement:
Borrowers who believe they may qualify for a payment but who did not receive a notice because they have moved, should contact the settlement administrator directly to provide that information or visit www.nationalmortgagesettlement.com to download and complete a claim form.
“It is not too late to file a claim for a cash payment if you believe you were improperly foreclosed upon by one of the five mortgage service providers who are part of this national settlement,” said Attorney General Peter Kilmartin.
The one-page claim forms are simple to complete. However, borrowers who have questions or need help filing their claim can contact the settlement administrator, toll-free, at 1-866-430-8358, or send questions by email to firstname.lastname@example.org. The information line is staffed Monday through Friday from (7 a.m. to 7 p.m. Central).
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