Wed August 29, 2012
Big Mortgage Payoff for MD Homeowners
BALTIMORE (AP) - Maryland Attorney General Doug Gansler says Maryland homeowners have received more than $220 million so far from a national mortgage settlement.
Gansler said Wednesday that 2,825 Maryland homeowners received the assistance between March 1 and June 30. The figures are part of an initial progress report.
Maryland's share of the $25 billion national mortgage settlement has been estimated at nearly $1 billion.
The relief includes mortgage modifications, principal reductions, deficiency waivers, refinancing and short sale financial assistance.
Mark Kaufman, Maryland's commissioner of financial regulation, says there has been significant progress in getting relief to distressed homeowners. Kaufman also says the state is in the early stages of the effort.