Please ensure Javascript is enabled for purposes of website accessibility

Borrowers begin to benefit from mortgage settlement

By: Dan Shaw, [email protected]//February 27, 2013//

Borrowers begin to benefit from mortgage settlement

By: Dan Shaw, [email protected]//February 27, 2013//

Listen to this article

Nearly $144 million has gone to Wisconsin borrowers under a settlement between 49 state attorney generals and the five largest mortgage servicers in the country, according to reports cited by the Wisconsin Attorney General’s office.

For the 3,065 Wisconsin borrowers who have benefited from the National Mortgage Settlement, the average savings has been $46,861. And 184 more borrowers in the state have been offered $13 million in savings from approved mortgage modifications.

Wisconsin was originally projected to receive $91.3 million in loan relief through the National Mortgage Settlement but, according to preliminary reports, is now likely to receive more than $150 million, the attorney general’s office reported.

Meanwhile, the settlement also set aside about $1.5 billion for two million borrowers who had lost their homes to foreclosure from 2008 to 2011. About 22,000 Wisconsin borrowers are expected to be able to claim about $17.2 million starting later this year.

Polls

Should Steven Avery be granted a new evidentiary hearing?

View Results

Loading ... Loading ...

Legal News

See All Legal News

WLJ People

Sea all WLJ People

Opinion Digests