Washington homeowners received $1.2 billion in consumer relief under National Mortgage Settlement

SEATTLE – August 27, 2013 – (RealEstateRama) — Attorney General Bob Ferguson announced that the five banks covered under the National Mortgage Settlement have reported providing over $1.2 billion dollars in consumer relief to Washington homeowners. As of June 30, 2013, according to the unaudited bank reports, 16,377 Washington state borrowers have received an average of $74,763 in consumer relief. This relief includes debt reduction loan modifications on first and second mortgages, lower interest rates on underwater mortgages, and transitional assistance for those unable to remain in their homes