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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:

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