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State Looking For “Robo-Signing” Victims
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More than 64,000 Ohioans are getting forms in the mail that could help them get at least $840, and probably more, from a settlement with the nation’s five largest mortgage companies.
The companies had been accused of improperly moving ahead with mass foreclosures, without examining each individual case. Ohio Attorney General Mike DeWine had pressed the settlement that he says will mean about $200 million dollars total for Ohio victims of the scandal.
“It’s not going to make them whole, it’s not going to bring their house back. But it is some kind of compensation,” DeWine says.
The five mortgage companies agreeing to pay the money include: Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo. In addition to this money for homeowners, the national settlement includes money for the STATES. Ohio is using that part to demolish abandoned foreclosed houses that are dragging down property values in many neighborhoods.
Click the play button above to hear an extended conversation with Ohio Attorney General Mike DeWine.