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Thousands of area homeowners to receive mortgage settlement

Tuesday - 6/11/2013, 1:13pm  ET

foreclosure.jpg
The settlement, and another similar settlement with Lender Processing Services, also included money directed to state governments for affordable housing initiatives. (WTOP File)

WASHINGTON - Thousands of people across the Washington area and across the country who lost their homes to foreclosure are about to get checks in the mail.

Checks for about $1,480 each will be sent starting Monday to people who lost their homes while the nation's largest lenders were "robo-signing" documents.

It's part of a government settlement reached last year with Ally Financial, Bank of America, Citigroup, J.P Morgan Chase and Wells Fargo.

The Maryland Attorney General's Office says the checks will be sent out between June 10 and June 17 to 10,470 people in the state who met the deadline to submit a valid claim form.

The settlement, and another similar settlement with Lender Processing Services, also included money directed to state governments for affordable housing initiatives.

In Virginia, more than 22,000 residents will receive checks. Money also went to a new housing trust fund.

In Maryland, the state announced this week that the money is going to groups including:

Baltimore City:

  • East Baltimore Development Corporation, Inc - BUILD ($948,125) - To acquire and rehabilitate houses to be rented in the City Arts section of Baltimore.
  • Greater Homewood Community Corporation ($500,000) - To acquire and rehabilitate houses for resale in the Harwood section.
  • Healthy Neighborhoods ($2.5 million) - To acquire and rehabilitate houses for resale in 12 neighborhoods in which it has existing projects.

Central Maryland
  • Arundel Community Development Services, Inc. ($1.0 million) - To acquire and rehabilitate houses to be rented in Brooklyn Park.
  • Baltimore County ($2,750,000) - For homebuyers to receive down payment assistance in identified ZIP codes; acquisition, rehabilitation and rental or resale of houses and acquisition and renovation of building for use as a shelter.
  • Home Partnership, Inc. ($500,000) - For homebuyers to receive down payment assistance in Aberdeen, Abingdon and Edgewood.

The National Capital Region:

  • Enterprise Community Partners ($3 million) - To acquire and preserve rental units in a multi-family rental development in Hyattsville and to use funds in a revolving loan fund once permanent financing is in place.
  • Montgomery Housing Partnership, Inc. ($500,000) - To acquire and rehabilitate houses to be rented in Silver Spring and to provide building security lighting and community building improvements.
  • Redevelopment Authority of Prince George's County ($735,000) - For homebuyers to receive down payment assistance in 5 ZIP codes.
Western Maryland
  • Frederick County ($1 million) - For homebuyers to receive down payment assistance in Frederick City and Brunswick and to establish a Land Trust which will acquire, rehabilitate and sell housing units.
  • Washington County ($715,000) - For homebuyers to receive down payment assistance and to acquire, rehabilitate and sell or rent housing units in Hagerstown.
  • Allegany County Human Resources Development Corporation ($250,000) - To renovate a building to be used as a Head Start Center serving children in a Cumberland neighborhood in need of such support services for low-income families.

Southern Maryland

  • Housing Authority of St. Mary's County ($500,000) - To acquire, rehabilitate and sell housing units in Lexington Park.
Eastern Shore
  • Delmarva Community Services, Inc. ($400,000) - To acquire, rehabilitate and sell housing units in Cambridge.
  • Habitat for Humanity Choptank ($624,000) - To acquire, rehabilitate and sell housing units in Easton.
  • Salisbury Neighborhood Housing Services, Inc. ($721,000) - To acquire, rehabilitate and sell housing units in Salisbury.
  • Housing Commission of Talbot County ($350,005) - To acquire, rehabilitate or construct and rent housing units in Easton.

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