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Mo. Looking For Foreclosure Abuse Victims

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Foreclosurers 3, Getty Images, photo by John Moore

COLUMBIA, Mo. (AP) — The state of Missouri is looking for victims of foreclosure abuse eligible for some of the nearly $200 million received from a national settlement with large banks.

Attorney General Chris Koster’s office is holding a series of public sessions around Missouri to provide consumers with details on the settlement. A Columbia forum is scheduled for noon Friday at the Boone County Government Center downtown.

Borrowers who lost homes through faulty foreclosures from 2008 through 2011 are eligible for $2,000 payments. That accounts for $31 million of Missouri’s $196 million payment.

An additional $38 million will help homeowners refinance “underwater” mortgages on homes worth less than the amount they still owe. And $86.5 million will help reduce loan amounts to those struggling to make payments.

© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

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