JEFFERSON CITY, Mo. (AP) - Nearly 24,000 checks will be mailed in coming days to people who lost their Missouri homes in foreclosures.
Attorney General Chris Koster says about $34 million will be paid to Missouri borrowers who submitted claims under a settlement involving 49 states and five of the nation's largest mortgage servicers. The 2012 settlement included Ally, Bank of America, Citi, JPMorgan Chase and Wells Fargo.
Koster says slightly more than 23,700 Missouri borrowers will receive checks of about $1,480 each. Those payments will be split for couples who have divorced or separated and no longer live at the same address.
The settlement applies only to people whose homes were foreclosed from 2008 through 2011 and whose loans were serviced by one of the five companies.