Friday Is Last Day To Apply For National Foreclosure Settlement Funds

Wednesday, January 16, 2013

Attorney General Bob Cooper today reminded eligible Tennesseans that the deadline to file a claim form to receive a payment under the national mortgage settlement is this Friday, Jan. 18, 2013.

 

Approximately 37,000 Tennessee borrowers who lost their home to foreclosure between Jan. 1, 2008 and Dec. 31, 2011 may be eligible to receive a payment under the settlement, but only if they file a claim.

Eligible borrowers had mortgages serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase or Wells Fargo, the nation’s five largest mortgage servicers which agreed to the settlement with the federal government and 49 state attorneys general last year.

 

“The deadline to submit a claim form is just days away,” Attorney General Cooper said. “We know there are still thousands of eligible Tennesseans who haven’t stepped forward. I urge anyone whose mortgage was serviced by one of these five banks and who lost their home to foreclosure to contact the settlement administrator immediately.”

 

Attorney General Cooper urged eligible Tennesseans to complete their claim forms and return them as soon as possible in the envelope provided, or file them online at www.nationalmortgagesettlement.com by the Jan. 18 deadline. The national settlement administrator sent the initial claim form packets to eligible Tennesseans in September and October 2012. On Dec. 26, 2012, the settlement administrator mailed reminder claim form packets to all eligible borrowers who had not yet submitted a claim form. 

 

Foreclosed Tennessee borrowers who have questions or need help filing their claim should contact the settlement administrator at (866) 430-8358, or send questions by email to administrator@nationalmortgagesettlement.com. The information line is staffed Monday through Friday from 7 a.m. to 7 p.m. Central Time. Spanish-speaking representatives are available. “Eligible Tennesseans are not giving up any legal rights to pursue other legal remedies if they decide to participate in this claims process,” Attorney General Cooper added.  “This payment is intended as partial compensation for the mortgage servicers’ illegal conduct and servicing abuse.” Payment checks are expected to be mailed in mid-2013. The exact payment each borrower receives will depend upon the total number of borrowers who participate by filing a claim.

 

Attorney General Cooper also warned borrowers to be on the lookout for potential scams connected to the national mortgage settlement. Consumers should ignore any solicitations for upfront payments, and should not to provide personal information to anyone who calls or emails claiming that they are providing settlement-related assistance.

 

Tennessee borrowers who are still in their homes but struggling to make their monthly mortgage payments can call the State of Tennessee’s free Mortgage Assistance Hotline at (855) 876-7283 to be directed to free foreclosure prevention counseling and other assistance programs. For more information, go to www.tn.gov/attorneygeneral or www.nationalmortgagesettlement.com.



Tennessee Housing Development Agency Sets New Record For Loan Production In 1st Quarter

The Tennessee Housing Development Agency just wrapped up its best March ever and its best first quarter ever for home loan production.   Tennesseans applied for $46.2 million in Great Choice Home Loans last month, a 27 percent jump over March 2017. The agency's previous record for the month of March was $44 million, set in 2008, just before the Great Recession took hold ... (click for more)

Gina Pannell Joins RE/MAX Properties As An Affiliate Broker

Gina Pannell has joined RE/MAX Properties as the newest member of its sales team. When she was young, Gina lived in Chattanooga and went to school in Apison. She said she always remembered the Chattanooga area and how beautiful it was compared to some places she had lived. She always wanted to come back to the area. As an adult, she also lived in Louisiana and North Carolina.  ... (click for more)

WACKER-Charleston Taking Initial Steps To Restart Polysilicon Production After Explosion Shut Facility Last September

WACKER-Charleston announced Thursday it has resumed operations for the production of polysilicon. Using a phase-in approach, WACKER has begun the initial start-up of the site, beginning with distillation. The initial production of polysilicon is targeted to begin in the next few weeks. WACKER anticipates the Charleston site will reach full capacity in the fourth quarter ... (click for more)

Governor, Lt. Governor Praise Work Of 110th General Assembly

Tennessee Governor Bill Haslam and Lt. Governor Randy McNally praised the work of the 110 th  General Assembly .   Governor Haslam said the legislators acted to "keep Tennessee on pace to lead the nation in jobs, education and efficient and effective government."   He said, “The investments in this budget and our legislative priorities this session ... (click for more)

Keep The Gifted Program In The Hamilton County Schools

I currently have a daughter in fourth grade at Lookout Valley Elementary and a daughter in the eighth grade at Lookout Valley Middle High School. Both of my daughters are very good students, as well as being very good people. I am writing today with a concern. I was made aware that the Hamilton County Department of Education is considering cutting the gifted program ... (click for more)

Roy Exum: A True Tennessean

“Last week I told some Republican friends who have held high office, traditional and true Republicans, who like you are both conservative and compassionate, Christians in their personal faith and public service,” the email began. “These are Tennessee Republicans that I have known for decades, and whom I'd trust with my life and my wife … I told them that my views and values make ... (click for more)