Sunday, November 25, 2012

Reagor: $883 mil in aid for Arizonans

More than $880 million so far has been committed to helping Arizona consumers through the National Mortgage Settlement, according to the nation's top five lenders.

The latest report on the settlement, issued this week, is based on information from Bank of America, JPMorgan Chase, Wells Fargo, CitiBank and GMAC/Ally. The data shows most of the aid so far, about $762 million, is coming from short sales approved by the lenders.

Another $61 million has been set aside or spent to help underwater borrowers refinance. About $60 million has gone toward modifying Arizona borrowers' primary mortgages. The lenders collectively report helping more than 13,000 of the state's consumers.

Read more: Reagor: $883 mil in aid for Arizonans

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