via Beshear: Nearly 550 Kentuckians Faced With Home Foreclosures Eligible for Payments

In Kentucky, 548 borrowers are eligible for a payment:

A total of 300 who lost their property – 66 Kentuckians in 2009; 80 Kentuckians in 2010; 97 Kentuckians in 2011; and 57 Kentuckians in 2012. These Kentuckians will qualify for a minimum $840 payment from the settlement.

A total of 248 whose foreclosures had not been finalized – 28 Kentuckians in 2009; 55 Kentuckians in 2010; 62 Kentuckians in 2011; and 103 Kentuckians in 2012. These Kentuckians will receive a minimum $285 payment.

A settlement administrator on the case will contact Kentuckians eligible for payments.

The settlement requires PHH to adhere to comprehensive mortgage servicing standards, conduct audits and provide audit results to a committee of states.

The settlement does not release PHH from liability for conduct that occurred beginning in 2013.

“As Attorney General, I am committed…