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Welcome to IndianaConsumer.com, the state's one-stop resource for consumer information and education brought to you by the Indiana Attorney General's Consumer Protection Division.
Here you can find the answers to questions on the minds of many Hoosier consumers just like you. Information on current topics such as identity theft, schemes and scams in the marketplace, rising fuel prices, prescription medication and recalled products is just a click away.
National Mortgage Settlement
In February 2012, 49 state attorneys general and the federal government announced a historic joint state-federal settlement with the country’s five largest mortgage servicers including Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo.
Approximately $1.5 billion of the funds recovered in the national settlement are being used to compensate borrowers who lost their home to foreclosure during the period of January 1, 2008, to December 31, 2011. Claim forms were mailed to eligible borrowers in late September/early October of 2012 and subsequent reminder notices were mailed. The deadline to submit a claim form has now passed. If you have submitted a claim form, the Settlement Administrator will contact you if any additional information is needed to complete your claim. Checks to borrowers who submitted claim forms are expected to be mailed mid-year in 2013. The exact amount of the payment to be made to each eligible claimant is not yet known but it will exceed the minimum payment of $840 that was indicated on the claim form. Visit www.nationalmortgagesettlement.com for more information or borrowers can call the National Mortgage Settlement Administrator at 1-866-430-8358.
Office of the Comptroller of the Currency and the Federal Reserve Board settlement with 13 mortgage servicers
The agreement, which was reached earlier this year, provides $3.6 billion in cash payments to borrowers whose homes were in any stage of the foreclosure process in 2009 or 2010 and whose mortgages were serviced by one of the following companies, their affiliates, or subsidiaries: Aurora, Bank of America, Citibank, Goldman Sachs, HSBC, JPMorgan Chase, MetLife Bank, Morgan Stanley, PNC, Sovereign, SunTrust, U.S. Bank, and Wells Fargo. For more information about this settlement please click here. Borrowers can call Rust Consulting, Inc. at 1-888-952-9105 to update their contact information or to verify that they are covered by the agreement.