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Some Kentucky mortgage borrowers eligible for payments

Posted at 2:28 PM, Jan 02, 2019
and last updated 2019-01-02 14:30:21-05

FRANKFORT, Ky. (AP) — Kentucky's Democratic Attorney General is asking people who faced foreclosures from a New Jersey-based mortgage company to sign on to a multistate settlement.

Andy Beshear was one of 49 state attorneys general who reached a $45 million settlement in 2018 with PHH Mortgage Company over allegations the company improperly serviced single-family residential mortgage loans from 2009 to 2012.

Beshear said 548 borrowers in Kentucky are eligible for payment. Three hundred of them lost their property and are eligible for a minimum payment of $840. The rest are eligible for a minimum payment of $285.

The deadline to sign on to the settlement is Jan. 28. Beshear said anyone who believes they are included should contact his office at (502) 696-5300.