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New Jersey takes home $838 million from foreclosure settlement
New Jersey and residents damaged by the foreclosure crisis would receive an estimated $838 million from a $26 billion national settlement among the states and five major lenders.
But the individual amounts will be pennies on the dollars — at most.
The largest chunk would be a projected $660 million for embattled homeowners trying to stave off foreclosure by one of the five big banks: Ally Financial (the former GMAC), Bank of America, Citibank, JP Morgan Chase, and Wells Fargo.
New Jersey’s total is the seventh highest amount among participating states, according to figures released by state Attorney General Jeffrey Chiesa. The amount could grow if other lenders sign onto the settlement. (Tyrrell, NJ Spotlight)
