RI homeowners get $153M to date in mortgage relief

Attorney general reports on national mortgage settlement in RI; 2,100 homeowners get relief

Associated Press

PROVIDENCE, R.I. (AP) -- Rhode Island Attorney General Peter Kilmartin says 2,124 homeowners have received a total of $153.5 million in assistance under the national mortgage settlement.

Kilmartin on Thursday released the final progress report from the five mortgage providers that are part of the settlement. The report includes mortgage relief activities through the end of June.

The average amount of assistance to homeowners in Rhode Island is $72,300.

The report says 317 Rhode Island homeowners have refinanced their mortgages, with an average rate reduction of 2.2 percent. Another 616 are in the process of doing so.

The information is self-reported by the banks and will be verified with the national settlement monitor.

Kilmartin says the settlement has had a measurable impact on state homeowners and the housing market.

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