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Government and Politics


State opens funding to foreclosure victims
Applicants can receive thousands of dollars.
by WKSU's STATEHOUSE CORRESPONDENT BILL COHEN


Reporter
Bill Cohen
 

More than 64-thousand Ohioans are getting forms in the mail that could help them get at least 840 dollars and probably more from a settlement with the nation's five largest mortgage companies. The companies had been accused of improperly moving ahead with mass foreclosures, without examining each individual case. Ohio Attorney General Mike DeWine had pressed the settlement that he says will mean about 200 million dollars total for Ohio victims of the scandal. He spoke to Ohio Public Radio's Bill Cohen.

Listen to DeWine and Cohen's entire interview.

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The five mortgage companies agreeing to pay the money include: Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo. In addition to this money for homeowners, the national settlement includes money for the states. Ohio is using that part to demolish abandoned foreclosed houses that are dragging down property values in many neighborhoods.

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