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

5 years 1 week 4 days ago February 09, 2012 Feb 9, 2012 Thursday, February 09 2012 Thursday, February 09, 2012 5:58:00 PM CST in News
By: Megan Johnson
Embed Code Copied

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
COLUMBIA - Columbia Regional Airport is about to get the renovation its been hoping for. The small airport currently flies... More >>
1 hour ago February 20, 2017 Feb 20, 2017 Monday, February 20 2017 Monday, February 20, 2017 7:37:00 PM CST in News
ST. CHARLES (AP) — Agents from the federal Bureau of Alcohol, Tobacco, Firearms and Explosives are joining the investigation into... More >>
1 hour ago February 20, 2017 Feb 20, 2017 Monday, February 20 2017 Monday, February 20, 2017 7:06:00 PM CST in News
JEFFERSON CITY - The Jefferson City City Council will vote Monday evening on the Truman Hotel Urban Renewal Plan. ... More >>
2 hours ago February 20, 2017 Feb 20, 2017 Monday, February 20 2017 Monday, February 20, 2017 6:42:00 PM CST in News
COLUMBIA - Missouri's new first lady, Dr. Sheena Chestnut Greitens, said she is committed to keeping politics separate from her... More >>
2 hours ago February 20, 2017 Feb 20, 2017 Monday, February 20 2017 Monday, February 20, 2017 6:30:00 PM CST in News
COLUMBIA - In the past two decades, the number of fatal opioid overdoses has skyrocketed, and the medical community has... More >>
5 hours ago February 20, 2017 Feb 20, 2017 Monday, February 20 2017 Monday, February 20, 2017 3:42:00 PM CST in News
COLUMBIA – As unusually warm weather brings a feeling of early spring across Missouri, it also speeds up the lawn... More >>
5 hours ago February 20, 2017 Feb 20, 2017 Monday, February 20 2017 Monday, February 20, 2017 3:27:00 PM CST in News
COLUMBIA - The mayor's medical tourism task force has finalized its recommendations on how to make Columbia a medical hub... More >>
6 hours ago February 20, 2017 Feb 20, 2017 Monday, February 20 2017 Monday, February 20, 2017 2:35:00 PM CST in News
COLUMBIA - Stress may seem like one of those things that we all talk about being under from time to... More >>
7 hours ago February 20, 2017 Feb 20, 2017 Monday, February 20 2017 Monday, February 20, 2017 1:47:00 PM CST in News
ST. JOSEPH (AP) — Th e Missouri S tate Highway Patrol says a 27-year-old man was died after a police... More >>
7 hours ago February 20, 2017 Feb 20, 2017 Monday, February 20 2017 Monday, February 20, 2017 1:13:43 PM CST in News
PLATTE CITY (AP) — A truck driver from Springfield was sentenced to four years in prison after pleading guilty in... More >>
8 hours ago February 20, 2017 Feb 20, 2017 Monday, February 20 2017 Monday, February 20, 2017 12:48:59 PM CST in News
COLUMBIA - MU Police identified a man suspected of kissing one unwilling female and trying to hug several others. There... More >>
9 hours ago February 20, 2017 Feb 20, 2017 Monday, February 20 2017 Monday, February 20, 2017 11:08:00 AM CST in News
COLUMBIA - The Columbia City Council will discuss a proposed ordinance change Monday night that would affect the way trash... More >>
10 hours ago February 20, 2017 Feb 20, 2017 Monday, February 20 2017 Monday, February 20, 2017 10:35:00 AM CST in News
COLUMBIA - The Columbia City Council will look at what could turn into a Prescription Drug Monitoring Program, or PDMP,... More >>
1 day ago February 19, 2017 Feb 19, 2017 Sunday, February 19 2017 Sunday, February 19, 2017 7:00:00 PM CST in News
CALLAWAY COUNTY - Two people were arrested after taking law enforcement on a high speed chase throughout mid-Missouri Sunday, according... More >>
1 day ago February 19, 2017 Feb 19, 2017 Sunday, February 19 2017 Sunday, February 19, 2017 6:36:00 PM CST in Coverage From Callaway
KANSAS CITY (AP) — A group of homeowners raised money for a man who was arrested in their neighborhood after... More >>
1 day ago February 19, 2017 Feb 19, 2017 Sunday, February 19 2017 Sunday, February 19, 2017 6:05:00 PM CST in News
OVERLAND - The Overland Police Department cancelled the Amber Alert for a 9-month-old boy Sunday. According to police, the... More >>
1 day ago February 19, 2017 Feb 19, 2017 Sunday, February 19 2017 Sunday, February 19, 2017 2:10:00 PM CST in News
JEFFERSON CITY (AP) — Missouri Gov. Eric Greitens has started complaining about the coverage his administration receives, but the Republican... More >>
1 day ago February 19, 2017 Feb 19, 2017 Sunday, February 19 2017 Sunday, February 19, 2017 1:21:21 PM CST in News
COLUMBIA - Columbia saw one of its warmest weekends of the year so far with temperatures in the high 60s... More >>
1 day ago February 19, 2017 Feb 19, 2017 Sunday, February 19 2017 Sunday, February 19, 2017 12:53:00 PM CST in News
Columbia, MO
Broken Clouds 62°
9pm 62°
10pm 60°
11pm 59°
12am 59°

Select a station to view its upcoming schedule:

Coming Up Next

7:00p
American Ninja Warrior
9:00p
Timeless
10:00p
KOMU 8 News @ 10
8:00p
Jane the Virgin
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld

Tonight's Schedule

7:00p
American Ninja Warrior
9:00p
Timeless
7:00p
Supergirl
8:00p
Jane the Virgin
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld