MONTPELIER, Vt. (AP) -- Vermont's attorney general says Vermont homeowners have gotten $14.7 million in foreclosure relief benefits as part of a state-federal settlement with the country's five largest mortgages servicers.
Attorney General William Sorrell says the benefits help Vermonters who have faced foreclosure, and who had problems with the companies that serviced their loans, such as delays and lost paperwork.
Sorrell's office says 257 Vermont borrowers benefited from some type of relief, which on average was about $57,000 per borrower.
About 82 borrowers received some type of second lien modification, totaling $4.1 million.
And the office says 39 borrowers were offered or completed refinancing worth $2.4 million.
The state-federal settlement came out of a civil law enforcement investigation and involves Bank of America, J.P. Morgan Chase, Citigroup, Wells Fargo, and Residential Capital.
- Company Legal & Law Matters