Claim forms sent to Colo. foreclosure victims

Colorado attorney general says foreclosure victims may be eligible for payments

Associated Press

DENVER (AP) -- Colorado Attorney General John Suthers is sending claim forms to borrowers who lost their homes to foreclosure between 2008 and 2011 who may be eligible for payment under a national mortgage-foreclosure settlement.

Suthers says the forms are going to borrowers who had mortgages serviced by GMAC/Ally Financial, Bank of America Corp., Citibank, JPMorgan Chase & Co., and Wells Fargo & Co. The nation's five largest mortgage servicers agreed to the $25 billion settlement with the federal government and 49 states.

Colorado expects about $51 million.

Suthers says the payments are compensation for alleged illegal conduct and servicing abuse.

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