Maryland To Get Nearly $1 Billion In Massive Mortgage Settlement

(Baltimore, MD)  –  The state of Maryland will get a big chunk of chance out of a mortgage settlement announced with the nation’s largest banks.  Attorney General Doug Gansler says the state will receive about 960-million dollars in benefits and relief for distressed homeowners in the state.

The nation’s largest mortgage providers — Wells Fargo, Bank of America, Citi, JP Morgan Chase and Ally — all agreed to the multi-state financial settlement in response to a nationwide investigation into foreclosure abuses and mortgage servicing practices.  Gansler says the settlement will help thousands of Maryland residents stay in their homes through enhanced loan modifications and other services.