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.