Mortgage settlement programs outlined
CONCORD, N.H.—Attorney General Michael Delaney is expounding upon relief programs for struggling homeowners.
New Hampshire is receiving an estimated $44 million under a 49-state settlement with the five largest mortgage lenders over foreclosure abuses. Homeowners applying to the programs must have a mortgage from a servicer in the settlement.
Delaney said on Wednesday that most -- $19 million -- goes to help with principal reductions and another $9.5 million is for refinancing zero or negative equity homes.
Borrowers foreclosed upon between 2008 and 2011 will divvy up $4.5 million in $1,800 lump sum payments. Another $11 million goes to the state to distribute.
The attorney general's Mortgage Settlement toll-free number at 866-522-4450 is open for questions.
