New England News
7:30 pm
Wed September 26, 2012

Massachusetts Mortgage Borrowers Eligible For Payments

Some people who lost their homes to foreclosure by a big bank in Massachusetts may be eligible for payments.  WAMC’s Paul Tuthill reports.

   Massachusetts borrowers are eligible for a total of  $14.6 million in cash payments, according to the office of Attorney General Martha Coakley.  The office is sending claim forms to people it has identified who can directly benefit from the $25 billion national settlement.  $1.5 billion  is to be divided up among approximately 2 million people nationwide who lost their homes to foreclosure.  Money is also being used for programs  to help people currently facing foreclosure.  The settlement, which was reached last April with five large banks, halted lawsuits in Massachusetts and other states over  the handling of foreclosures including the widespread practice of robo signing documents.