Coloradan's get $207 million in mortgage relief

By: Associated Press Email
By: Associated Press Email

DENVER (AP) -- Colorado homeowners have received $207.4 million in mortgage relief under a landmark settlement over foreclosure abuses.

Colorado Attorney General John Suthers Monday announced that 3,700 struggling homeowners in the state received help under the agreement reached in February with five banks. Attorneys general from 49 states and the federal government forged the $25 billion settlement with Ally Financial Inc., Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co.

The relief came in the form of principal reduction and debt forgiveness to help reduce monthly payments or help with short sales, in which lenders agree to accept less than what the seller owes on the mortgage.

Nationwide, more than 309,000 borrowers have received some form of mortgage relief between March 1 and Sept. 30.


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Szabla Location: Location on Nov 22, 2012 at 10:45 AM
    Name one person this goes to who isn't connected to the Democrats.
KKCO NBC 11 News
2531 Blichmann Avenue
Grand Junction, CO 81505

Station Phone: 970.243.1111
Business Fax: 970.243.1770
Newsroom Fax: 970.245.3793
News Tip & Contest Line: 970.255.8477
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 180149761 - nbc11news.com/a?a=180149761
Gray Television, Inc.