UPDATE: Missouri to Receive Nearly $200 Million in Mortgage Settlement

6 years 5 months 5 days ago Thursday, February 09 2012 Feb 9, 2012 Thursday, February 09, 2012 5:58:00 PM CST February 09, 2012 in News
By: Megan Johnson
loading

JEFFERSON CITY - Attorney General Chris Koster announced today that Missouri will receive $196 million out of a national $25 billion settlement with the nation's five largest lenders.

Those five banks are Bank of America, Wells Fargo, Ally Financial, JPMorgan Chase, and Citigroup. The settlement was on charges the banks used "shady" methods in the foreclosure of homes during the housing crisis, such as fake signatures.

Breaking down the $196 million:

  •  $38 million will go to homeowners who are current on payments, and currently owe more than their home is worth.
  • $86.5 million will help homeowners who are behind on payments and currently owe more than their home is worth. This will bring principal reductions and other borrower assistance programs.
  • $31 million will go to borrowers who lost their homes in foreclosure from Jan. 1, 2008 to Dec. 31, 2011, and suffered servicing abuse. Each borrower will receive roughly a $2000 payment.
  • $40 million will go to the state, which Gov. Nixon has said he will use to restore funding to public colleges and universities.

The settlement does not rule out the possibility of criminal prosecutions against the banks.

Koster said he is in the process of training 10-15 attorneys in the next 30 days to inform Missourians.

The Missouri Attorney General's Office launched a special hotline for consumers to get more information--that number is 855-870-7676. For more information on the settlement, visit:

More News

Grid
List
JEFFERSON CITY (AP) — Former Gov. Eric Greitens' campaign spent hundreds of thousands of dollars on legal fees in his... More >>
25 minutes ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 7:03:27 PM CDT July 16, 2018 in News
WASHINGTON, D.C. -- The U.S. House of Representatives passed a bill to rename the Columbia post office located on Walnut... More >>
38 minutes ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 6:51:00 PM CDT July 16, 2018 in News
JEFFERSON CITY (AP) — Missouri's U.S. senators are standing by the intelligence community's conclusion that the Russians interfered in the... More >>
2 hours ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 5:10:30 PM CDT July 16, 2018 in News
KANSAS CITY (AP) — A man who was fatally shot after wounding three Kansas City police officers during a gunfight... More >>
3 hours ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 3:30:00 PM CDT July 16, 2018 in News
COLUMBIA - A dialogue that began in October 2017 among the East Campus community could finally have an answer Monday.... More >>
5 hours ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 2:10:00 PM CDT July 16, 2018 in News
CALLAWAY COUNTY - Family, friends and law enforcement continue to search Little Dixie Lake Conservation Area for Jerry Kinman. ... More >>
5 hours ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 2:00:00 PM CDT July 16, 2018 in News
KANSAS CITY (AP) — Bidders have spent nearly $80,000 for baseball memorabilia a former Kansas City Royals second baseman put... More >>
5 hours ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 1:51:00 PM CDT July 16, 2018 in News
(CNN Money) -- Adidas is racing to make its products more sustainable. The global sportswear maker said Monday that... More >>
6 hours ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 1:18:32 PM CDT July 16, 2018 in News
(CNN) -- A common drug used to control blood pressure and help prevent heart failure was announced by the US... More >>
6 hours ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 1:05:00 PM CDT July 16, 2018 in News
(CNN) -- US President Donald Trump said Monday he holds both the United States and Russia responsible for the breakdown... More >>
8 hours ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 11:08:00 AM CDT July 16, 2018 in News
COLUMBIA - Work to remove several large pin oaks from Mizzou's Francis Quadrangle began Monday after a recent study showed... More >>
9 hours ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 10:17:00 AM CDT July 16, 2018 in News
BEIJING (AP) — China announced it filed a World Trade Organization challenge Monday to President Donald Trump's latest tariff threat,... More >>
9 hours ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 9:52:57 AM CDT July 16, 2018 in News
HELSINKI (AP) — President Donald Trump and Russia's Vladimir Putin opened their long-awaited summit Monday with a wink and slouch,... More >>
9 hours ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 9:37:00 AM CDT July 16, 2018 in News
JEFFERSON CITY - A Jefferson City man died in Iowa Saturday morning during police pursuit. A Fayette County Sheriff's... More >>
11 hours ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 8:20:00 AM CDT July 16, 2018 in News
BOONE COUNTY - Boone County deputies investigate a death at North Lakewood Drive and East St. Charles Road. Deputies... More >>
12 hours ago Monday, July 16 2018 Jul 16, 2018 Monday, July 16, 2018 7:15:00 AM CDT July 16, 2018 in News
COLUMBIA- Ragtag Cinema showed the World Cup Final against France and Croatia Sunday on its movie screens free of charge.... More >>
23 hours ago Sunday, July 15 2018 Jul 15, 2018 Sunday, July 15, 2018 7:53:00 PM CDT July 15, 2018 in Continuous News
BOONE COUNTY - Two cities in Boone County have higher numbers of traffic stops involving minorities, according to an annual... More >>
1 day ago Sunday, July 15 2018 Jul 15, 2018 Sunday, July 15, 2018 6:56:00 PM CDT July 15, 2018 in News
(CNN Money) -- Amazon has successfully invented a new shopping holiday, and it's set to capitalize on the rewards. ... More >>
1 day ago Sunday, July 15 2018 Jul 15, 2018 Sunday, July 15, 2018 5:19:00 PM CDT July 15, 2018 in News
Columbia, MO
Broken Clouds 90°
8pm 89°
9pm 85°
10pm 83°
11pm 81°