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September 15, 2012 07:08 AM

Mortgage Settlement Claim Forms To Be Mailed

Pierre, SD

Attorney General Marty Jackley says South Dakotans eligible for refunds as part of a national mortgage settlement will soon be receiving their claim information in the mail.   The deadline to file a claim is Jan. 18.  

In February, Jackley 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 nearly $7.8 million 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 2008 through 2011 and were not properly offered loss mitigation or were otherwise improperly foreclosed on qualify for about $2,000 in cash payments.

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