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Keller @ Large: Martha Coakley On New Mortgage Settlement

BOSTON (CBS) – Attorney General Martha Coakley has signed a new settlement that could help thousands of homeowners in Massachusetts.

Read: Settlement Details

Under the agreement, five major banks — Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial — will reduce loans for nearly 1 million households.

The deal will give some homeowners delinquent on their mortgage payments and other homeowners underwater with their mortgagees a piece of more than $300 million in assistance.

The deal was made to avert more foreclosures.

Coakley recently sat down with WBZ’s Jon Keller to discuss the settlement and other issues.

Watch Part 1:

Watch Part 2:

“We intend to be very firm to make sure this is implemented,” said Coakley.

For more information about specific loan modification programs and whether they qualify under terms of the state-federal settlement, contact the appropriate lenders:

  • Bank of America: 1-877-488-7814
  • Citi: 1-866-272-4749
  • Chase: 1-866-372-6901
  • GMAC: 1-800-766-4622
  • Wells Fargo: 1-800-288-3212

Additional information can be found on the state-federal settlement at the websites below:

You can listen to Keller At Large on WBZ News Radio every weekday at 7:55 a.m. and 12:25 p.m. You can also watch Jon on WBZ-TV News.

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