Wisconsin residents to receive settlement money for illegal foreclosuresNearly 15,000 people in Wisconsin will each receive about $1,400 each in settlement money for having had their homes illegally foreclosed on.
By: By Steve Roisum, Wisconsin Public Radio, Superior Telegram
Nearly 15,000 people in Wisconsin will each receive about $1,400 each in settlement money for having had their homes illegally foreclosed on.
The money comes from a national settlement against the country’s five largest mortgage servicers. Ally/GMAC, JPMorgan Chase, Citi, Bank of America, and Wells Fargo were found guilty of unfairly foreclosing on homes between 2008 and 2011.
Dana Brueck is a spokeswoman for Attorney General J.B. Van Hollen. She says the companies used unfair practices such as robo-signing.
“That’s essentially executing foreclosure documents without proper review or the practice of signing affidavits without having personal knowledge of what was in that affidavit.”
The overall settlement in Wisconsin comes to nearly $22 million dollars. Another $175 million in loan assistance has already gone to help residents facing foreclosure.