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NJ homeowners to get checks in mortgage settlement

TRENTON, N.J. (AP) -- Most New Jersey homeowners receiving compensation as part of the $25 billion national mortgage settlement will soon receive a check for about $1,480.

State Attorney General Jeffrey Chiesa says anyone who submitted a valid claim through the National Mortgage Settlement agreement was eligible. He announced Tuesday that about 5,300 New Jersey homeowners will receive checks totaling $7.76 million

Nationwide, about 962,000 checks will be sent starting next week.

The settlement was part of deal reached with 49 state attorneys general and the country's five largest mortgage servicers — Ally Financial, Bank of America Corp., Citi, JPMorgan Chase & Co., and Wells Fargo & Co.