AG Gansler’s Mortgage Servicing Settlement Exceeds $1.3 Billion in Direct Relief; Checks to Eligible Foreclosure Victims to be Mailed in June

Baltimore, MD – May 21, 2013 – (RealEstateRama) — Attorney General Douglas F. Gansler announced today that 16,627 Maryland families have received more than $1.3 billion in relief from the National Mortgage Settlement during the period of March 1, 2012 through March 31, 2013. This represents approximately $400 million more in relief and assistance for distressed homeowners than was originally estimated. This latest report does not include the one-time, no-strings-attached cash payments to eligible borrowers who lost their homes to foreclosure. Eligible Marylanders should begin receiving checks next month; they are expected to exceed the $840 minimum, although an exact amount is not yet known