Deadline fast approaching to apply for mortgage settlement money

Deadline fast approaching to apply for mortgage settlement money

PORTLAND, Ore. – The state wants you to get your money.

Almost 10,000 people in Oregon are eligible for money from a national settlement with the banks but have not applied. The deadline is Jan. 18.

Some may think it's a scam. Others may not have received the letter at all because it went to an old address.

You may be eligible if the bank foreclosed on your house in 2008 through 2011; if your bank is Ally-GMAC, Bank of America, Citi, JP Morgan Chase or Wells Fargo.

And if the bank made mistakes, like losing your paperwork, you can go to the National Mortgage Settlement website to sign up.

National website with info on settlement and if you are eligible:

Oregon information:

Settlement Compensation Help:

If you were foreclosed on between January 1, 2008 and December 31, 2011 by one of the five mortgage servicers involved in the settlement, you may be eligible for some compensation. Your Attorney General and the Settlement Administrator will contact people by mail who may qualify for a payment. If you are concerned that you could be difficult to locate, contact the Oregon Attorney General’s Office at 1-877-877-9392 or sign up online to receive more information as it becomes available.

If you have questions about your eligibility or compensation under the settlement, please call the Settlement Administrator on its toll-free hotline at 1-866-430-8358.


Washington Information: