TOPEKA - (January 4, 2013) – The deadline for eligible Kansas borrowers who lost their homes due to foreclosure between January 1, 2008, and December 31, 2011, to file a National Mortgage Settlement Claim form in order to receive a cash payment is January 18th, Kansas Attorney General Derek Schmidt announced today.
Schmidt encouraged Kansans who have received notice that they may be eligible to file a claim to do so before the deadline in order to receive a cash payment from a settlement fund set aside for that purpose.
State Attorneys General and the National Mortgage Settlement Administrator have taken extensive steps to ensure that eligible borrowers who were victims of improper foreclosure practices are aware of the claims process. In September and October notice letters and claim forms were mailed to eligible borrowers. A call center was opened for borrowers to speak with a trained customer service representative. The National Mortgage Settlement website allows borrowers to submit their claim forms online. Reminder mailings were sent to non-responders in November and December.
As of December 20, 2012, notices had been mailed to 12,134 eligible borrowers who were involved in a total of 10,338 loans in Kansas; 4,837 claims had been filed. The number of borrowers exceeds the number of loans because some loans had multiple borrowers.
“More than half of eligible Kansas borrowers who were foreclosed upon by one of the top five mortgage servicers between 2008 and 2011 have not yet filed their claim forms and after January 18th they may not be able to qualify for a cash payment from this fund,” Attorney General Schmidt said. “One of the key provisions of the Mortgage Settlement is this direct payment, and I encourage eligible borrowers to take advantage of this remedy.”
If you believe you are eligible for relief and have not received a claim form, contact the National Mortgage Settlement Administrator at 1-866-430-8358. To file a claim online, go to http://www.nationalmortgagesettlement.com
The National Mortgage Settlement negotiated by the state Attorneys General and the federal government and announced in February 2012 affects certain borrowers whose mortgages were serviced by the following major lenders:
- Bank of America
- JPMorgan Chase
- Wells Fargo