Some Illinois families whose homes were foreclosed upon will share in a settlement with five big banks. A spokeswoman for the Illinois attorney general’s office says checks will be mailed out in the coming week to 30,000 Illinoisans. Bank of America, JPMorgan Chase, Wells Fargo, Citibank and GMAC/Ally are giving money to home loan borrowers who lost their homes.
“The $43 million estimated to be going to the 30,000 Illinois borrowers is part of the $25 billion national settlement with the nation’s five biggest banks over robo-signing and other fraudulent foreclosure practices,” spokesman Natalie Bauer said.
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Bauer says borrowers with questions regarding the settlement may call 866-430-8358. To report a scam related to the settlement, call the attorney general’s Homeowner Helpline at 866-544-7151.