Settlement checks to borrowers who lost homes
Montanans who lost their homes to foreclosure between 2008 and 2011 and filed a valid claim through the National Mortgage Settlement will receive a check this month for nearly $1,500.
Attorney General Tim Fox announced the payments Thursday for claims involving Ally (formerly GMAC), Bank of America Corp., Citi, JPMorgan Chase & Co., and Wells Fargo & Co.
Checks totaling $2.5 million are being mailed to over 1,700 Montana residents.
The payments come from a $1.5 billion national settlement over mortgage servicing abuse.