Deadline For Foreclosed-Upon Homeowners To File Claim In National Mortgage Settlement Is This Friday

It took years to reach the $25 billion settlement between the nation’s largest lenders and 49 states, but affected homeowners were only given months to claim their piece of the pie.

So this is a reminder to anyone who their home due to foreclosure between Jan. 1, 2008 and Dec. 31, 2011, and whose loans were serviced by any of the following at the time — Wells Fargo, JPMorgan Chase, Ally/GMAC, Citi, Bank of America. The deadline to file your claim is Friday, Jan. 18.

If you met the conditions listed below, you should have already received a notice letter in the fall of 2012:
* Your loan went to foreclosure sale between January 1, 2008 and December 31, 2011.
* The loan was serviced by one of the five mortgage servicers participating in the settlement.
* The borrower made at least three payments on the loan.
* The borrower lived in or intended to live in the property at the time of origination of the loan.
* The property was a one-to-four unit residential property.
* The unpaid principal balance of the first-lien mortgage loan did not exceed $729,750 for a one-unit property; $934,200 for a two-unit property; $1,129,250 for a three-unit property; or $1,403,400 for a four-unit property.
* The property was not located in Oklahoma, as that state opted out of the settlement.

If for some reason you meet these conditions but did not receive a notice letter, you should contact the National Mortgage Settlement Administrator at 1-866-430-8358.

For those that have the letters but have not filed their claim, they can do so at

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.