DAYTON, OHIO: More than 64,000 Ohioans are getting letters saying they may be eligible for payments of at least $840 from a national mortgage foreclosure settlement.
The Ohio Attorney General’s Office and the National Mortgage Settlement administrator are mailing the letters this week to those who lost their homes to foreclosure between 2008 and 2011. The settlement involves five of the nation’s biggest banks — Ally, Bank of America, Citi, JPMorgan Chase and Wells Fargo.
The Dayton Daily News reports that the settlement stems from the so-called robo-signing scandal that erupted in 2010 when the five banks were accused of shoddy mortgage paperwork.
The money comes from the $25 billion joint state-federal settlement reached this year with the banks.