Home Economy Mortgage relief continues at high rate

Mortgage relief continues at high rate

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Distressed Connecticut homeowners have received twice as much mortgage relief as anticipated from the $25 billion national mortgage foreclosure settlement.

In the settlement, five of the largest mortgage servicing companies were required to provide $17 billion in debt relief within three years of February 2012.

The latest report shows more than 5,000 Connecticut homeowners have received $345.3 million in debt relief since March 2012. Originally the state expected to receive $155 million.

Connecticut Attorney General George Jepsen previously told the Business Journal the increase was due to the state’s aggressive marketing and foreclosure assistance events. The next event is April 17 in New Haven.

 

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