National Mortgage Settlement Consumer Claim Information to be Distributed Beginning September 24th

Friday, September 14, 201

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PIERRE, S.D.-    Attorney General Marty Jackley announced today that South Dakota consumers who are eligible for refunds as part of the National Mortgage Settlement will be receiving their claim information in the mail soon. Beginning September 17, 2012, postcards from the Attorney General’s Office will be sent to eligible consumers informing them that claim forms will be mailed beginning on September 24, 2012. The deadline to file a claim is January 18, 2013, and consumers are encouraged to file as soon as possible.
 
In February of 2012, South Dakota joined with other State Attorneys General in reaching a $25 billion federal-state agreement with the nation’s five largest mortgages service providers over nationwide mortgage practices.  The proposed agreement provided an estimated $7,790,984 in direct relief to South Dakota homeowners and addresses future mortgage loan service practices.  As part of the settlement, South Dakota borrowers who lost their home to foreclosure from January 1, 2008 through December 31, 2011, and were not properly offered loss mitigation or were otherwise improperly foreclosed on, qualify for approximately $2,000 in cash payments to borrowers or a total of $1,265,421.  
 
Borrowers looking for additional information on eligibility may contact the National Mortgage Settlement hotline at 1-866-430-8358 or visit the website at www.nationalmortgagesettlement.com.