State Attorney General Rob McKenna warned that it could take time for borrowers to find out whether they are eligible for relief, to be distributed over a three-year period. He said banks would contact borrowers in some cases. Consumers may also contact the banks directly for more information at:
Bank of America: 877-488-7814
Citigroup: 866-272-4749
Chase: 866-372-6901
GMAC: 800-766-4622
Wells Fargo: 800-288-3212
Source: Washington State Office of the Attorney General
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Clark County homeowners who are sinking under a high mortgage payment or owe more for their house than it’s worth could be thrown a lifeline as part of a $25 billion national settlement.
The deal translates to $648 million in benefits for Washington’s troubled homeowners and foreclosure victims, State Attorney General Rob McKenna said Thursday during a phone conference. Oregon will receive between $100 million and $200 million, officials from that state said.
McKenna served on the eight-member executive team negotiating the landmark settlement with the nation’s five largest mortgage servicers, Bank of America Corp., JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc. and Ally Financial Inc., formerly GMAC.