Washington – A federal judge has signed the landmark settlement that will bring nearly $1 billion to Maryland homeowners who were victims of deceptive and illegal foreclosure practices.
The consent judgments signed April 5 by U.S. District Court Judge Rosemary Collyer order the nation’s five largest mortgage services to adopt comprehensive new consumer protection standards and provide an estimated $957 million in direct consumer relief and monetary payments, Attorney General Douglas Gansler announced. Learn more.
Homeowners who are behind on their mortgage are urged to contact a nonprofit housing counselor in their neighborhood through Maryland’s free HOPE Hotline at 1 877-462-7555.
More than 70,000 distressed families have been helped through the state’s MD HOPE Counseling Network, which was established in 2007 in the wake of the foreclosure crisis under Governor O’Malley’s leadership.