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National foreclosure settlement sends another $440000 to Wisconsin



Wisconsin residents who lost houses to foreclosure because of the housing crisis may be eligible for additional relief from a settlement with the nation's five biggest banks.

Wisconsin residents who lost houses to foreclosure because of the housing crisis may be eligible for additional relief from a settlement with the nation’s five biggest banks.









Sean Ryan
Reporter- Milwaukee Business Journal

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Almost 300 Wisconsin residents who lost houses to foreclosure will collect about $1,480 apiece under a national settlement with the country’s five largest banks, according to state Attorney General J.B. Van Hollen.

The combined $440,000 is for borrowers whose homes were foreclosed in 2008 through 2011. The payment is through the 2012 National Mortgage Settlement between 49 states and five banks: Bank of America, JP Morgan Chase, Wells Fargo, Citibank and Ally Bank, formerly GMAC.

Wisconsin borrowers previously had received a combined $21.85 million in payments and $175 million in other relief through the settlement.

Reporter Sean Ryan covers commercial and residential real estate for the Milwaukee Business Journal and through the Real Estate Roundup blog on the website. He also covers construction, highways and public transit.


Article source: http://www.bizjournals.com/milwaukee/news/2014/01/31/national-foreclosure-settlement-sends.html

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