The numbers are high, but something like close to 67,000 Las Vegas and Nevada homeowners lost their homes to foreclosure between January 2008 and December 2011. This information is relevant now more than ever, as qualifying Nevadans are now eligible for reimbursement checks of up to $2,000. These reimbursements come under a settlement agreement with the nation's five largest banks, according to Attorney General Catherine Cortez Masto.
Masto's office started the process of mailing out information packetsto homeowners who had lost their homes to foreclosure during the qualifying timeframe. The packets filled with information about the checks, are being mailed out up until October 12. Forms must be returned by January 18.
Important information to note, came from both Masto and U.S. Housing and Urban Development Secretary Shaun Donovan at a Las Vegas Sun editorial board meeting this past week: Nevadans need to be wary of people looking to charge a fee to assist in the application process for the reimbursement funds.
"It's free," Masto said. "I'm concerned about scammers."
Pending approval, the payment checks are set to be mailed out in the middle months of 2013.
This reimbursement became possible as the federal government, along with 49 state attorneys general (Nevada being one of those states), forged a settlement agreement with Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo banks. The $1.5 billion in payments for close to 1.8 million borrowers means that payments will fall somewhere in the $1,500 to $2,000 range.
Fees that were charged wrongly to homeowners, and other various charges that were unnecessary account for the reimbursement by the banks. It's possible that, those that lost their homes who really shouldn't have, are now eligible to at least get a portion of those fees returned to them.
If you think you might be eligible for a check, you can request and fill out a form online at nationalmortgagesettlement.com.
Any questions can be directed to settlement administrator at 866-430-8358, or emailed to email@example.com.