Illinois Attorney General Lisa Madigan announced yesterday that Illinois
homeowners have until January 18, 2013 to to submit a claim for reimbursement
under the National Mortgage Settlement.
If your home was foreclosed upon by GMAC/Ally, Bank of America, JPMorgan
Chase, Wells Fargo, or Citigroup, then you are eligible to receive compensation
via the National Mortgage Settlement. Claims can be submitted online via
theNational Mortgage Settlement claim-filing website.
The settlement's administrator sent out claim applications last fall.
My guess is that most of those packages went to the last-known address
for most borrowers -- which is likely the foreclosed home. Since you can
submit a claim online, even people who wait until the last minute can
file a claim and receive some amount of money from the settlement.
Submitting a claim does not require that you show any actual financial
harm from the foreclosure. Submitting a claim does not waive any lawsuits
you may have against your former lender. Quite simply, not submitting
a claim is a wasted opportunity -- it only costs you the time it takes
to submit the forms.
If you are having difficulty with the forms, then you can contact the settlement
administrator at 1-866-430-8358, or send questions by email to
Time is running out, so it is important to act now.
The source article for AG Madigan's announcement can be found