(Baltimore, MD) — The state of Maryland will get a big chunk of chance out of a mortgage settlement announced with the nation’s largest banks. Attorney General Doug Gansler says the state will receive about 960-million dollars in benefits and relief for distressed homeowners in the state.
The nation’s largest mortgage providers — Wells Fargo, Bank of America, Citi, JP Morgan Chase and Ally — all agreed to the multi-state financial settlement in response to a nationwide investigation into foreclosure abuses and mortgage servicing practices. Gansler says the settlement will help thousands of Maryland residents stay in their homes through enhanced loan modifications and other services.
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