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.


Chattanooga Recognizes National Fair Housing Month In April

The City of Chattanooga is recognizing Fair Housing Month through a number of activities that promote equal housing for everyone .  The Office of Multi-Cultural Affairs and the Office of Economic and Community Development are collaborating with the Greater Chattanooga Association of Realtors, Legal Aid of East Tennessee and Chattanooga Neighborhood Enterprises to encourage ... (click for more)

Chattanooga Neighborhood Enterprise Offers Refinancing On 30-Year FHA Mortgages Granted After April 18, 2011

Chattanooga Neighborhood Enterprise now offers refinancing on all 30-year Federal Housing Administration mortgage loans granted after April 18, 2011. The news comes following the White House decision in January to reduce the annual FHA mortgage insurance premiums from 1.35 percent to 0.85 percent. Borrowers are estimated to save roughly $900 annually with the new rates. ... (click for more)

Robber Who Was Shot At Rossville Boulevard Car Lot Dies; No Charges To Be Filed

Police said a person who was shot during a robbery attempt at a car lot at 4314 Rossville Blvd. around 1:50 p.m. on Thursday has died. Police said the shooting has been ruled a "justifiable homicide" and no charges will be brought against 27-year-old Alan Miller. The shooting in which the robbery victim shot the suspect was at Miller Auto Sales. (click for more)

Man Charged In Shooting On Sixth Avenue Had Been Shot Himself Last Week; Police Say Incident "Part Of Gang War"

A man charged with attempted first-degree murder on Sixth Avenue Court on Thursday afternoon was shot himself earlier this month. O'Shae Kadaris Smith, 20, of 2114 E. 12th St., is also charged with reckless endangerment, aggravated assault and possessing a firearm during the commission of a crime. He was one of two people shot on Rawlings Street on March 16. Kendre Allen, ... (click for more)

Finley Stadium Needs To Grow Up - And Response

RE:  Finley Stadium Financial Picture Rosy; Beer And Alcohol Sales Approved; AstroTurf Almost Ready and City, County Pitching In $250,000 Each For New Finley Stadium AstroTurf I read a story here five days ago about a rosy future for Finley stadium. It lead me to believe that the stadium was making money and even improvements with donations.  Then we get a short ... (click for more)

Roy Exum: Mom’s Parting Instructions

My mother, Helen Exum, went to be with the Lord in late August of last year and, in the way folks do, I was going through some of her files last week when I ran across an envelope with my name on it. Inside was a story and written in her hand were the words, “This is a wonderful story for you to tell!” Not being one to disobey my mother and not about to waylay the wishes of the ... (click for more)