Floridians Who Lost Homes to Foreclosure to Receive $1,500 Checks

A total of $2.5 million will be distributed.

More than 1,700 Floridians who lost their homes to foreclosure will receive small payments as part of a national settlement with five major banks.

Florida Attorney General Pam Bondi announced Friday that payments of $1,480 would be paid next week. A total of $2.5 million will be distributed.

The state had previously announced that payments of $1,480 were paid to approximately 73,000 former homeowners who qualified for assistance under the settlement.

Five lenders negotiated a $25 billion settlement in 2012 to end an investigation into foreclosure abuses.

Florida — which has been hit hard by the foreclosure crisis and the collapse of the housing market — negotiated one of the largest shares in the settlement agreement with Ally Financial, Bank of America, Citigroup, JPMorgan Chase and Wells Fargo.

Copyright AP - Associated Press
Contact Us