DENVER – May 22, 2013 – (RealEstateRama) — Joseph A. Smith, Jr., Monitor of the National Mortgage Settlement, has received an update on the consumer relief activities the five banks that are parties to the Settlement reported through March 31, 2013. The banks sent these reports to each state that is party to the Settlement with copies to the Monitor and the Monitoring Committee. This figure includes both completed consumer relief and active first lien trial modifications. In Colorado, 7,070 borrowers benefitted from some type of consumer relief totaling more than $398 million, which on average represents about $56,301 per borrower. A fact sheet summarizing national consumer relief may be downloaded here. Including relief in progress, Colorado’s numbers are approximately $405.3 million with an additional 108 borrowers who could receive final loan modifications by the end of June 2013.
Homeowners facing foreclosure are urged to contact the Colorado Foreclosure Hotline at 1-877-601-4673 (HOPE) or visit www.coloradoforeclosurehotline.org. The free hotline works with homeowners in or facing foreclosure. Homeowners who call the hotline may speak with a housing counselor about their options.
If consumers believe they have been affected by the banks’ problematic processes or have experienced any form of foreclosure fraud, they may file a complaint at www.coloradoattorneygeneral.gov/complaint. To learn more about Colorado’s ongoing fight against mortgage and foreclosure fraud, visit the Office of the Attorney General’s Mortgage Fraud Information Center.
About the Office of Mortgage Settlement Oversight:
More information about the National Mortgage Settlement is available at www.nationalmortgagesettlement.com. Further information about Joseph Smith and the Office of Mortgage Settlement Oversight is available at www.mortgageoversight.com.
