Friday is the final day to file a claim form under the National Mortgage Foreclosure settlement. Those whose homes were foreclosed between 2008 and 2011 can file a claim if they borrowed from one of five banks: Ally/GMAC, Bank of America, Citi, JP Morgan Chase or Wells Fargo.
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Attorney General Lisa Madigan is encouraging Illinois residents to file their claim before the deadline and know that “eligible borrowers do not have to prove that there was financial harm done to them to receive a payment. And they also don’t give up any of their rights to either pursue a lawsuit that maybe ongoing or if they want to file a lawsuit later against their bank.”
In 2012, the five banks reached an agreement to pay those who file a claim money back after violating the law by signing foreclosure documents without the presence of a notary public and by not checking if they had the right facts. About $25 billion will be dispersed among settlement recipients.