Attorney General’s Mortgage Servicing Settlement
The Attorney General’s Mortgage Servicing Settlement is an agreement between the
Maryland’s Attorney General’s Office and the country’s five largest loan providers
(Wells Fargo, Bank of America, Citi, JP Morgan Chase, Ally Bank/GMAC) that will
provide approximately $950 million in relief through programs offered to eligible
Maryland homeowners who were affected by the foreclosure crisis.
The Settlement provides assistant to those individuals who:
- Lost their home to foreclosure between January 1, 2008 through December 31,2011
and suffered servicing abuse
- Are behind or at risk of falling behind on their mortgage
- Are making mortgage payments but their home is less than the (outstanding) balance
of their mortgage.
The Forms of Assistance include:
- Payments to foreclosed borrowers
- Principle reductions
- Refinancing
- Other limited forms of assistance-short sale deficiency waivers, unemployed payment
forbearance or forgiveness, relocation assistance and similar services where available
The five service providers will determine who is eligible for assistance. There
is a six to nine month timeline before individuals are contacted about receiving
benefits from the Settlement. More information can be provided by calling your bank
directly:
- Wells Fargo: 1-800-288-3212
- Bank of America: 1-877-488-7814
- Citi: 1-866-272-4749
- JP Morgan Chase: 1-866-372-6901
- Ally Bank/GMAC: 1-800-766-4622
For additional information about the AG Settlement: